The theoretical abstract outlined in the paper, identifies the variables determining the impact of Foreign Direct Investment - FDI on economic development and competitiveness, enabling the formulation of a matrix that relates the issues reviewed and assess the impact of FDI on development elements and the competitiveness. This tool could be particularly useful as an instrument to guide public policies in less developed countries that seek to leverage FDI for a fast development. The Matrix proposal in addition plays a role as a useful element for understanding the impact of FDI on host economies.