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Jamaica: Government moving to privatise several assets

KINGSTON, Jamaica (CMC) – The Jamaica government says it will, in the coming months, be looking at privatising a number of assets under its portfolio.

“In the coming months, the government will intensify its policy of full asset utilisation. These assets will be made available to persons who demonstrate the drive, interest and entrepreneurship…persons who are risk-takers and who will take these assets and make something of them for the people of Jamaica,” said Prime Minister Andrew Holness.

He told the opening ceremony for the launch of the 120-room S Hotel in Montego Bay that while he sees this as a surefire way to boost further economic growth, “the process has to be one which is both competitive and transparent”.

Holness said that the assets will be disbursed through a process of divestment which will include public/private partnerships, corporatisation and placing many of these assets on the Jamaica Stock Exchange, “so that you who are gathered here can also own part of these companies and claim the prosperity.

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