More than ten years after the transfer of competence from Member States to the European Commission on matters of foreign direct investment (FDI), the institution has undertaken a vast reform to remedy the ‘backlash’ against investor-state arbitration. Although the ultimate objective is to replace the existing international investment law regime laid down in the bilateral investment treaties (‘BITs’) concluded by Member States by an European Union (EU) reformed ‘model’ of investment protection, Member State BITs still govern most investment relations with third countries. Since most EU international investment agreements (‘IIAs’) have not yet entered into force, this article posits that investment law reform should take place at the domestic level. It examines to which extent recent investment treaty reforms undertaken by Member States have indirectly implemented the EU model. While national initiatives align with the EU template on substantive investment protection, some of them are particularly innovative regarding dispute settlement and non-economic provisions.