Today, foreign investment is known as one of the most important sources of funding and technology transfer modes in developing countries, that is because foreign investment, in comparison to domestic investment, includes competitive advantages such as accessibility to sufficient information, managerial skills, advanced technology and valid sources of funding., Due to high demand of large expenses and advanced technologies, foreign investment is a necessary and inevitable issue in oil refinery industries. In related to multiplicity of foreign investment modes, selecting the right mode of investment has been as one of the strategic decisions for investee countries. The present research, therefore, is designed to identify and prioritize the different modes of foreign investment in oil refinery industries. This paper is based on a research, descriptive-survey methodology. To analyze the gathering data used in this paper is based on statically and multinational attribute decision making techniques. The final results illustrates that using investment mode like Built, Operation, Transfer (BOT) has been considered to be the best method in comparison with other modes in this oil refinery industry.