Government Announces The Sale Of Trinidad Hilton, Magdalena Grand, National Quarries And LABIDCO

Government is moving ahead with plans to divest several state-owned commercial assets, including the Trinidad Hilton and the Magdalena Grand Beach and Golf Resort, as part of efforts to increase private sector participation in the economy.

Prime Minister Kamla Persad-Bissessar made the announcement while speaking at the sod-turning ceremony for a new $500 million Marriott resort at Rocky Point, Tobago.

The Prime Minister said the State has not performed well in managing commercial enterprises and argued that greater private sector involvement is needed to drive economic growth and investment.