Kamla Persad-Bissessar Announces Plans to Divest State-Owned Assets

Hilton Trinidad workers are worried about their jobs after Prime Minister Kamla Persad-Bissessar announced plans to divest the state-owned hotel, saying they were not properly told in advance and want guarantees on pay, union representation and continuity. The CWU is demanding consultation and protections, while National Quarries says it is still waiting for formal government instructions on any divestment.

Prime Minister Kamla Persad-Bissessar says the government plans to divest state assets including National Quarries, Hilton Trinidad, Magdalena Grand and Labidco, arguing private sector involvement could improve weak-performing enterprises. Opposition figures warn the move could amount to a fire sale of national assets, while economist Dr Ronald Ramkissoon says divestment could work if it is transparent, fairly priced and opens ownership to citizens.

Prime Minister Kamla Persad-Bissessar says the Government will move to divest the Magdalena Grand Hotel, Hilton Trinidad, National Quarries and LABIDCO, arguing the State should not be running hotels or operating businesses at a loss. She said expressions of interest and requests for proposals will be issued soon, as the Government looks for private investors to take over these assets.

Prime Minister Kamla Persad-Bissessar said the Government plans to divest the Magdalena Grand Hotel in Tobago, the Hilton Trinidad, National Quarries and LABIDCO, arguing the State should not be running these businesses. She said expressions of interest will be issued soon as the administration looks for private investors to take over struggling state-owned operations.

Prime Minister Kamla Persad-Bissessar said the Government will divest several state-owned assets, including National Quarries, the Hilton Trinidad, the Magdalena Grand Beach and Golf Resort, and LABIDCO, arguing that private investors are better suited to run commercial businesses. The move, announced at the $500 million Marriott project launch in Tobago, could reshape state involvement in tourism and other sectors and affect jobs and investment.