Investing in preservation or preserving investment? States are caught in a delicate balance. On one hand, in order to create a favorable investment climate, they could be tempted to ease cultural protection regulations. On the other, if they choose to enforce stricter measures to protect heritage, this could result in disputes where investors’ economic interests are compromised, and their rights potentially violated. States are therefore presented with a complex dilemma, as the protection of cultural heritage clashes with the pursuit of investment or development projects by foreign investors. However, the situation is rarely so clear-cut. Instead, it is worth exploring whether these two seemingly opposing forces could be complementary. Just as foreign investment seeks to foster development, culture is increasingly recognized as an essential driver of social, political and economic development. This raises a critical question: how can States reconcile the protection of investments with the preservation of their cultural heritage through the mechanisms of international investment law?