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An important component of the country's development strategy is the support of domestic producers that produce products for export in the real sector of the economy, in particular, knowledge-intensive industries that form the basis of economic modernization. In order to modernize and transfer the economy to an innovative path of development, it is necessary to develop a mechanism for improving the structure of the economy, a set of long-term measures aimed at strategic regulation of economic processes for the development of priority sectors. There are numerous publications on this topic. However, they do not sufficiently disclose the features of manufacturing policy in the context of economic liberalization, implementation of the development strategy in Uzbekistan. There is an acute need to develop a concept and mechanism for the realization of manufacturing policy in order to implement structural changes and transfer the economy of Uzbekistan to an innovative path of development. The purpose of the study is to develop scientific proposals and practical recommendations aimed at increasing the efficiency of the mechanism for implementing of the manufacturing policy in the context of modernization of the economy of Uzbekistan. Research methods: ascent from the abstract to the concrete, the unity of the logical and the historical, the systems approach, economic and statistical methods of analysis, grouping and comparative economic analysis, structural and functional analysis. The hypothesis of the research is that the developed scientific proposals and practical recommendations make it possible to formulate possible scenarios for the development and implementation of manufacturing policy in Uzbekistan for the medium-term perspective. Scientific conclusions and practical recommendations of the work develop and deepen the relevant, insufficiently developed in economic theory scientific direction. They also identify the priority areas of the economic mechanism for the implementation of manufacturing policy in modernization of the economy, the optimal ratio for the effective functioning of investment, structural, industrial and innovation policies in Uzbekistan and can be used as a base for further special deep scientific researches devoted to the priority areas of manufacturing policy development. The results of the study can be used in further improvement of the legal institutional framework regulating the economic mechanism for the implementation of manufacturing policy, as well as in the development of state target programs, alternative scenarios for the modernization of the country's economy and in the process of using indicative planning.