The aim of the paper is to indicate the factors which encourage foreign investors to invest and discourage them from investing in Central and Eastern European countries. The analysis included 8 countries: Czech Republic, Slovakia, Hungary, Poland, Lithuania, Latvia, Estonia and Slovenia - the countries which joined the EU on May 1, 2004 (the so called EU 8 countries ). The authoress analyses the factors of strategic importance for the inflow of direct foreign investment (DFI) to these countries. All Central and Eastern European countries aim to attract the most capital in the form of DFI. Despite their efforts, the inflow of DFI to specific countries varies. The question arises what possible reasons for this phenomenon are. The conducted analysis enables the authoress to claim that none of the countries in question has a considerable advantage over the others as regards their attractiveness for foreign investors. For each of these countries certain factors can be indicated which distinguish them in a positive way from the remaining ones.