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The report examines national investment laws as versatile domestic policy instruments, tracing their evolution from 1950s development-driven codes to 1980-2010 models aligned with international treaty standards. It identifies seven primary functions of contemporary investment laws: governing admission, conferring incentives, facilitating investment, guaranteeing legal protection, managing disputes, specifying investor obligations, and monitoring oversight. The authors argue against 'off-the-shelf' models, suggesting instead a functional framework where design is tailored to national context and sustainable development objectives. The report warns against the risks of 'legal enclaves' and the potential for costly litigation when treaty-style protections and advance consent to international arbitration are incorporated into domestic law.

The report examines how national investment laws have evolved from domestic development tools in the 1950s to instruments reflecting international treaty standards between 1980 and 2010, and finally toward a modern era of diverse, context-specific designs. Based on a survey of 70 laws, it identifies seven primary functions of investment laws: governing admission, administering incentives, facilitating investment, guaranteeing legal protection, managing disputes, specifying investor obligations, and monitoring investment. The authors argue against 'off-the-shelf' models, instead proposing a framework where policy-makers first define their ultimate objectives—such as promoting sustainable development—and then determine which specific functions and legal structures are appropriate for their national context.