In accordance with the letter dated August 11, 2026, No. 02-1565, from the Head of the Working Group for Bukhara Region, First Deputy Chairman of the Accounts Chamber of the Republic of Uzbekistan, Deputy Director of the Center Z.A. Ashurov participated from August 19 to 22, 2026, in the work of the republican working group established to study the reserves, resources and development opportunities of the economy of Bukhara Region, identify systemic problems, and develop specific innovative ideas, proposals and recommendations.

On August 19, 2026, he participated in the scientific and practical conference “Bukhara — a Platform for Scientific Research,” held at Bukhara State Technical University. The conference addressed issues of innovative development of the region, systemic problems in various sectors of the economy, as well as the tasks of research institutions in developing projects capable of increasing gross regional product, production capacity, employment, the tax base and export volumes.

Representatives of 51 research institutions of the country, as well as enterprises of Bukhara Region, also participated in the events. During the visit, Z.A. Ashurov familiarized himself with the activities of leading enterprises in the region, including Varnet, which specializes in greenhouse cultivation of vegetables, exotic fruits and seedlings; EZAZA Group, specializing in the production of national clothing and traditional handicrafts; as well as the Poykent tourist complex.

Following the work in Bukhara Region, Z.A. Ashurov studied the existing reserves and opportunities for improving the efficiency of state asset utilization and developed specific proposals to unlock additional reserves, resources and opportunities through the effective use of state assets in Bukhara Region in three areas: privatization of state property, management of state property, and improvement of corporate governance at enterprises with state participation.

In the area of privatization, 55 state assets currently offered for sale were analyzed, including 14 assets that have remained unsold for one year or longer. For such assets, it was proposed to introduce an investment repositioning mechanism involving an additional analysis of the reasons for the lack of demand, identification of the most promising options for the further use of each asset, development of investment proposals on this basis, and targeted outreach to potential investors. According to preliminary estimates, bringing the assets currently offered for sale into economic use could contribute to attracting approximately UZS 220 billion in private investment and creating more than 1,000 new jobs.

In the area of state property management, particular attention was paid to 287 vacant state-owned real estate properties identified during the inventory. Instead of relying solely on demand generated through electronic auctions, it was proposed to introduce a “demand-based leasing” mechanism, which would involve identifying entrepreneurs’ demand for premises and facilities in specific districts, matching such demand with available state-owned properties, and subsequently putting the relevant properties up for electronic auction. According to preliminary estimates, leasing these properties could generate approximately UZS 3.65 billion in additional rental income annually, while at the same time creating new premises for entrepreneurial activity.

In the area of corporate governance, it was proposed to utilize the potential of the capital market to finance the development of enterprises with state participation. Based on a preliminary analysis of financial performance indicators, five joint-stock companies with relatively stable results were identified. For these companies, it was proposed to assess the feasibility of raising funds through additional share offerings and/or the issuance of corporate bonds. The baseline calculation scenario indicates potential to raise approximately UZS 25 billion in additional investment resources through capital market instruments, which could be directed toward modernization, expansion of production capacity and implementation of new investment projects.

The proposals developed by the Center are aimed not only at improving the efficiency of state asset management, but also at transforming existing state assets into additional sources of private investment, entrepreneurial activity, new jobs and revenues in Bukhara Region. The proposals and corresponding preliminary calculations have been submitted to the republican working group for consideration.