This paper examines the impact of investment treaties on the rule of law through a detailed case study of Myanmar. The paper draws on a series of semi-structured interviews with government officials, investment lawyers and foreign advisors to the Myanmar government, as well as an analysis of primary and secondary documents. The findings cast doubt on claims that investment treaties promote good governance and the rule of law. The overall finding is that investment treaties’ effects on domestic governance are primarily mediated through processes within the executive branch of government and that these effects are limited and often ad hoc. Investment treaties have no discernible impact on the judicial system in Myanmar, and little impact on legislation or regulatory rule-making processes.