Xinhua | April 30, 2013
CAIRO — Egypt would not sell any more state- owned companies, President Mohamed Morsi said Tuesday.
In his speech to steel industry workers in Helwan district in Cairo on the eve of Labor Day, Morsi said there will be no more selling of the public sector again, stressing that the private sector could not be an alternative for the public sector.
“Egypt encourages the private sector, but this does not mean disregarding the public sector,” he said.
“We will continue the way of late President Gamal Abdel-Nasser who wanted to establish a huge industrial castle in Egypt,” Morsi said, noting that manufacturing and exporting are real indicators for the development of a country.
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