ASSESSMENT OF PUBLIC–PRIVATE PARTNERSHIP DEVELOPMENT AND PROJECT DYNAMICS IN THE KHOREZM REGION
DOI:
https://doi.org/10.5281/zenodo.22855769Abstract
As sub-national economic systems increasingly adopt diversified financing mechanisms, assessing the operational dynamics and institutional effectiveness of public–private partnerships (PPPs) at the regional level is becoming increasingly important for sustainable regional development. This study presents an empirical and institutional assessment of PPP development and project dynamics in the Khorezm Region of Uzbekistan. Using a mixed-methods research design combining comparative institutional analysis, qualitative analysis of the regulatory and policy framework, and sector-specific project benchmarking, the study examines the implementation of PPP initiatives across key regional sectors, including transport, utility infrastructure, healthcare, tourism infrastructure, and municipal services. The analysis indicates that recent institutional and regulatory developments have supported greater private-sector participation and created additional opportunities for the modernisation of public infrastructure. At the same time, the effectiveness of project implementation can be influenced by the allocation of risks between public and private partners, the availability of specialised expertise in complex financial modelling at the sub-national level, the efficiency of land-allocation procedures, and pre-investment transaction costs. Furthermore, the findings indicate differences in the spatial distribution of PPP projects between major urban centres and rural and secondary districts, highlighting opportunities for broader territorial coverage of infrastructure investment. To address these institutional and operational considerations, the study proposes a multi-tiered regional development framework incorporating a structured PPP project pipeline, digitalised single-window administrative procedures, and scenario-based risk-mitigation instruments, including revenue-support mechanisms where appropriate. Overall, the study contributes to the regional economics literature by proposing an integrated framework designed to support project bankability, improve the management of transaction costs, and promote greater alignment between privatesector incentives and the long-term socio-economic development priorities of the Khorezm Region.Keywords
public–private partnership (PPP), Khorezm Region, regional economy, project dynamics, infrastructure investment, institutional capacity, risk allocation, sub-national governance, transaction costs, regional developmentReferences
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