50 BY 5 (50 REFORMS IN 5 MONTHS)

The Executive Committee for Private Sector Development (PriSEC) has been tasked with implementing the reforms of the Private Sector Development National Priority Program (PSD-NPP). The document has over 250 Key Actions divided into two categories a) 18-month and b) 5-year. These key actions are anticipated to be broken down into activities.

 

Since its adoption in November 2018, PriSEC Secretariat has been working closely with  line ministries and private sector to drive implementation of reforms. However, prioritizing amongst 250 key actions and developing many activities for their implementation has been an overwhelming task that can often render PriSEC Working Groups and line ministries unsure of where and how to start. The task of analyzing, debating and prioritizing which key actions to start on, will at best, require months of work, representing a major delay of PSD NPP reform implementation, and at worst may lead to inaction. To tackle this challenge, the PriSEC Secretariat has proposed a targeted initiative entitled “50 by 5” or 50 reforms in 5 months.

 

50 by 5 was PriSEC initiative implemented in 2018-2019 and early 2020 as an effort to fast track and simplify implementation of PSD NPP reforms. The initiative 50 priority reforms to be completed in 5 months from the 250 total reforms in the PSD NPP and other major national documents including World Bank Groups’s Doing Business Indicator Report. Of these 50 priority reforms, each PriSEC Working Group were assigned approximately 10 Key Actions that correspond to their thematic area. Working Groups were responsible for the full implementation cycle of their key actions. The initiative thus intended to spearhead the successful implementation and delivery of 50 reforms in under 5 months. PriSEC Secretariat with the help of its stakeholders was able to fully implement 50/5 Phase I and partially implement Phase II in 2018-19 and 2020.

 

For 2020-2021, PriSEC Secretariat, under the new leadership; and very close consultation with private sector, government and development partners, selected 40 reforms (20 short-term and 20 medium-term) from an inventory of 179 reforms to be implemented within 6-9 months. While PSD NPP still remained as the main source, other documents such as DBRM, NFIS, NES…etc. were fully dissected and reforms were extracted. For more information about current reform plan, please visit Reform Plan 2020-2021.

 

You can download more information about 50/5 Phase I and Phase II from the below links:

 

50 BY 5 PHASE 1 IMPLEMENTATION PROGRESS

100% - (WG1) Financial Sector Development
100% - (WG2) Agribusiness and Export Development
100% - (WG3) Investment Facilitation and Promotion
100% - (WG4) Trade and Industrial Development
100% - (WG5) Legal
100% - Overall

50 BY 5 PHASE 2 IMPLEMENTATION PROGRESS

63% - (WG1) Financial Sector Development
83% - (WG2) Agribusiness and Export Development
49% - (WG3) Investment Facilitation and Promotion
76% - (WG4) Trade and Industrial Development
52% - (WG5) Legal
65% - Overall