30/11/2010
Al-Akhbar Newspaper 2010/NOVEMBER /30
The article focuses on the rise and fall of Egypt’s manufacturing plan during the stage of socialism. From 1955-1959, Egypt witnessed an industrial renaissance thanks to accurate scientific industrial planning. Factors of imbalance appeared with the movement of nationalization in the early sixties which eliminated the private-owned national industry and annexed it to the public sector industries.(Available in Arabic – German in PDF )
The concept of privatization had to turn from the mere transferring of the property of certain businesses from the State to the private sector, to a new technique ensuring optimal administration for the targeted assets and the biggest return from such assets. The absence of any plan for the proper use of the proceeds from getting rid of the State’s assets added more fuel to the fire. The privatization train stopped due to slipping into the monopoly quagmire in light of liquidizing the competitor private sector. This imposed additional burdens upon manufacturers represented by excessive labor. Everyone will be happy when the State adopts a new policy for encouraging Egyptians in the field of privatization and grants them some facilities to achieve great economic success for themselves and for their country.