Abstract. This article provides an overview of the economic transformation taking place in Uzbekistan, highlighting the opportunities, challenges, and progress associated with the country's reform agenda. It explores the liberalization measures, privatization efforts, and regional integration initiatives implemented by the Uzbek government to attract investment and foster sustainable development. The article also discusses sectoral development and diversification, addressing the agricultural, manufacturing, and services sectors. It acknowledges the challenges faced and emphasizes the need to address income inequality, regional disparities, and environmental sustainability. The article presents Uzbekistan's potential to become a regional economic powerhouse and its journey towards sustainable development.