IMHO Mig-23 with upgraded avionics would be just as good as Soviet F-20,considering what they did with Mig-29.
Mig-23 itself wasn't that expensive either. I also think Mig-23P and MLD is superior to F-20.
Note that I've said that MiG's F-20 to be produced instead of MiG-29.
Thus the 'F-20' gets the avionics & missiles that MiG-29 would've gotten - IRST, radar that can actually do look-down shoot-down, AA-10 and AA-12, HMCS. It will have far better range than MiG-29 (that was bad in this regard), much cheaper than either MiG-23 or -29 (lighter & cheaper construction, no swing-wing, just one engine) to buy and operate. Later is very important for countries wanting to change their old MiG-21s and earlier fighters with a new aircraft one-for-one without breaking the bank, that is borderline impossible with MiG-29.
It can mean that, for example, India licence produces it, and perhaps Romania and Yugoslavia. Later in 1990s/2000s, the upgrades (be it from the original manufacture or by 3rd party) are money well spent.
Before all that, MiG company should've made their 'Mirage F-1' instead of the MiG-23.