Tashkent, Uzbekistan (UzDaily.com) -- The leading Chinese newspaper Renmin Ribao published an article titled "Economic development as a priority in the Development Strategy of New Uzbekistan for 2022-2026", Dunyo news agency reported.

The article is devoted to Uzbekistan’s achievements in improving the investment climate, expanding export potential, intensifying foreign trade and prospects for further development of the economy as part of the implementation of a new five-year program in the country.

According to the publication, the five-year Development Strategy of Uzbekistan for 2022-2026, consisting of seven priority areas and one hundred goals, is the basis for further reforms in the country in all areas. The strategy provides for the implementation of various measures that should create the basis for joining the ranks of “states with an upper middle income”.

It is noted that one important goal is to ensure macroeconomic stability and gradually reduce the annual inflation rate to 5 percent by 2023.

Special attention is paid to the foreign trade activity of Uzbekistan in the publication. Accelerating the country’s accession to the WTO is also among the priorities of the New Uzbekistan Development Strategy.

“By 2026, Uzbekistan plans to increase the republic’s exports to US$30 billion to maintain sustainable economic development. Therefore, bringing the share of the private sector in exports to 60% is a priority. Accordingly, by improving the system of providing organizational and financial assistance to exporting enterprises, the country is ready to increase the current number of exporting enterprises from 6,500 to 15,000. It is also expected to expand the geography of exports of goods from 115 to 150 countries of the world,” the newspaper writes.

The article also reflects the measures taken in Uzbekistan to develop the digital economy, banking, support for entrepreneurship, agriculture, regional development and others.

“Uzbekistan has identified several priorities for economic transformation in its Development Strategy. The implementation of all these activities requires high potential and significant resources. Therefore, cooperation with partners and integration into the world community is given priority in many of the goals formulated in the Strategy,” summarizes People’s Daily.