Criteria of allocation of development poles and growth points in the regional economy have been proved. Technique of allocation of potential development poles and growth points based on the account of multiplicative effect in vertically diversified enterprises has been developed. It has been revealed and quantitatively estimated that the higher attractiveness of the development poles in the regional economy is due to the synergetic effect, which is manifested in the diversification and modernization of production in the compactly located territory of the region. A map of poles and growth points in Sughd region of the Republic of Tajikistan has been compiled and it has been proved that a development pole has been formed in the region, located in the North of Khujand and in adjacent to it B. Gafurovsky and J. Rasulovsky districts. It is called the “North development pole” and is at the stage of maturity of the life cycle, as it fully characterizes the market relations that function in the development pole. The results of the study can be used in the development of investment rating and typology of the country’s regions, social policy and state regulation of spatial development.

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The article considers the issues of increasing the level of economic diversification as an effective direction for achieving the strategy of sustainable development of the region. The paper carries out the analysis of the current state of the economy of the Sughd region of the Republic of Tajikistan, calculates the sectoral indicators of diversification and the average level of diversification of the regional economy. An assessment based on the existing methodology showed the need to continue the diversification process, but does not indicate which industries should be diversified first.In order to identify priority sectors in carrying out diversification, a ranking matrix for economic sectors has been developed. The diversification coefficients and the structural coefficient were used as indicators in the matrix, which makes it possible to assess the existing level of diversification of the region’s industries and determine the priority sectors (trade, agriculture and industry), which have the necessary economic potential.The article also considers the experience of successful countries that have reached a high level of economic development as a result of increasing the level of diversification, on the basis of which recommendations for the Sughd region of Tajikistan are substantiated in order to achieve sustainable regional economic growth. The research results can be used in the processes of developing a strategy for the development of the country’s regions and state regulation of spatial development.

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The aim of the study is to develop scientific and methodological provisions for assessing the investment attractiveness of the region’s development poles and their approbation on the materials of the Sughd region of the Republic of Tajikistan. At the same time, a methodology should be developed for determining and justifying the capital investment objects with the highest return of the region’s development pole and growth point. The main objective of the research paper is to assess the investment attractiveness of the development poles as objects that most effectively use the region’s limited resources. The research methods are based on the principles of system-complex, deterministic and causal approaches in combination with the principle of dynamism. In relation to the Tajik regions considered as quasi-economy, the following range of indicators has been substantiated and proposed: the region’s enterprises production total profitability; market conditions (the industry production volumes dynamics and the development poles); competitive situation (the large competitors number in the region); the ratio of profitable and unprofitable enterprises; average labour productivity; the growth locomotives presence in the region. Based on the accounting and analysis of these indicators, a comparative assessment of the investment attractiveness of the North Development Pole and the food industry of the Sughd region of the Republic of Tajikistan has been carried out. It has been proved that the investment attractiveness of the development pole is 2.3 times higher than the investment attractiveness of the food industry chosen as a base for comparison. The results of the study can be used in the regional investment policy development processes and state regulation of spatial development.