International Investment Arbitration proceedings often deliver its Award in two parts: (i) Jurisdiction and (ii) Merit. One of the most debated and controversial elements in the Jurisdictional Proceedings have been the definition of ‘Investment’. The controversy was particularly fuelled by the Salini Test, which demanded an additional economic interpretation of the term investment, including four criteria. This research paper focuses on testing the criteria “contribution to the host State’s development” within the definition of investment. The test was applied frequently in following arbitral awards, with only a few attempting to analyse the criterion. Number of Tribunals accepted the test on its face, even though the concept had not attained the stature of Jurisprudence Constante. Seldom had the Tribunals attempted to analyse it through the prism of economic literature and feasibility of incorporating such an element within the scope of the definition of investment. In this paper, the authors would examine the significance and rationale used by the several investment arbitral Tribunals while accepting or rejecting the concept of economic development within the ambit of the definition of investment. Finally, discuss the relevance of the criterion.

国际投资仲裁程序通常分为两个部分来作出裁决：(i) 管辖权和 (ii) 案情。司法程序中最具争议和最具争议的要素之一是“投资”的定义。Salini 测试尤其加剧了争议，该测试要求对术语投资进行额外的经济解释，包括四个标准。本研究论文的重点是检验投资定义中“对东道国发展的贡献”的标准。该测试经常用于以下仲裁裁决，只有少数人试图分析该标准。尽管该概念尚未达到法理学康斯坦丁的地位，但法庭数量从表面上接受了测试。法庭很少试图通过经济文献的棱镜以及将此类要素纳入投资定义范围的可行性来对其进行分析。在本文中，作者将研究几个投资仲裁庭在投资定义范围内接受或拒绝经济发展概念时所使用的意义和理由。最后，讨论标准的相关性。