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The Master Thesis are dedicated to the analysis of the interrelationship of the term „investment“ of Article 25(1) of the ICSID convention and criterion of the contribution to the development of the host state, which is argued to be part of the definition of investment. The aim of this paper is to draw a map for a legal practitioner, of ways of application and non-application of the criterion of the contribution to the development of the host state. Analysis provided in the Master Thesis explaines how and why the criterion of the contribution to the development of the host state may be applied or not applied within the three divergent approachres to the term „investment“ Article 25(1) of the ICSID convention: the subjective approach, the autonomous objective approach and the autonomous intuitive approach., Paradoksalu, tačiau net po beveik penkiasdešimties metų sėkmingo veikimo Pasaulio banko įsteigtame tarptautiniame užsienio investicijų apsaugos režime vis dar nesutariama dėl pačios termino „investicija“ sąvokos. 1965 m. Konvencijos dėl valstybių ir kitų valstybių piliečių ginčų investicijų srityje sprendimo (toliau – ICISD konvencija) 25(1) straipsnis įtvirtina investicijos terminą kaip jurisdikcinį kriterijų, tačiau jo neapibrėžia. Tai sąlygoja skirtingą termino „investicija“ interpretavimą tarp jį taikančių arbitražinių tribūnolų. Nagrinėjant investicijos terminą įdomu tai, jog tarp įvairių šiam terminui apibrėžti taikytų kriterijų yra vienas kriterijus išsiskiriantis savo kontraversiškumu. Tai prisidėjimo prie ekonominio valstybės vystymosi kriterijus. Atsižvelgus į šį kontroversiškumą, šio baigiamojo magistro darbo tikslu tapo noras sukurti aktualų žemėlapį, kuriame atsispindėtų būdai įtraukti arba pašalinti minėtą potencialų investicijos kriterijų iš investicijos termino sąvokos.

The thesis represents a legal analysis on desirability and feasibility for the modernization of the 1980 United Nations Convention on the Contracts for the International Sale of Goods. Therefore, the desirability for the modernization is evaluating though the analyses of issues related to general problems in the application (uniform interpretation, concurrent remedies, battle of forms), deficient problems of the CISG (validity, hardship and electronic commerce), and analyses of exclusion of the CISG by contracting parties. Moreover, in order to evaluate feasibility for the modernization of the Convention new ways and directions of new global perspectives, are taken into account, namely it is made through the glance of Swiss Proposal of new global initiative and the latest opinions of scholars, official organizations, such as UNCITRAL, State Department`s Advisory Committee on Private International Law, and Executive Committee of the Uniform Law Commission (ULC). From practical side, this thesis provides analysis on the desirability for modernization, which is highly important in order to understand whether the old CISG needs changes, and an analysis on feasibilities that create a fresh look on how and in what direction such changes can be made.

National courts have to apply the European Union Law. This obligation derives from their status according the communitary law and general principals, especially the principal of the primacy of the communitary law, direct effect and the effective protection of the individual rights. There are two modes of EU law application. First means the direct application, second - indirect application, which consists in utilisation of the prejudicial procedure. This procedure permits to elucidate the eventual national courts' doubts. It also a factor, which limitates their discretion. Actually by this procedure the authors of the Treaties wanted to achieve uniforme application of communitary law in all the member States. It has to be told, that the effective application is very important also because the Court of Justice has recognazed the State's responsibility for the inapropriate activity of national courts.