The concept of investment policy is interpreted broadly in the Policy Framework for
Investment. It refers not only to laws, regulations and policies relating to the admission of
investors, the rules once established and the protection of their property, but also to the
goals and expectations concerning the contribution of investment to sustainable
development, such as those outlined in national development plans. As in other areas of
the Framework, the way that investment policy is developed and modified influences
investment decisions. Investment is by nature forward looking, and the transparency,
predictability and credibility of policies are important considerations. Policies by their
nature change over time; what matters most for investors is how these changes are
undertaken, as explained below.