Speaking at the inauguration of the United Arab Republic's first electrical manufacturing plant in Cairo July 24, President Nasser said the U.
Speaking at the inauguration of the United Arab Republic's first electrical manufacturing plant in Cairo July 24, President Nasser said the U.A.R. was "more than a hundred years behind the industrialized nations of the world."
The electrical plant was one of forty being officially inaugurated during the third anniversary of Eqypt's nationalisation of the Suez Canal.
Appealing for private capital, for his plan to make the UAR the industrial core of the Arab world, President Nasser said the goal of a socialist and co-operative democracy did not mean private enterprise was doomed. On the contrary, he said, it would be welcomed and would be encouraged by preventing foreign competition through banning similar imports. At the price for this protection, he went on, private industry had to accept government control of prices and profits.
Speaking in Alexandria July 26 he said "all Arabs are waiting for the next and most decisive chapter of the struggle with Israel. In the next battle we shall erase Israel." The President's remarks were in answer to reported statements by former Israel Chief of Staff, Moshe Dayan, in which he contended that Israel should occupy the Sinai Peninsula and the Eastern bank of the Suez Canal if the UAR persisted in banning Israeli shipping and commerce from the waterway.