Jamaica's Major Companies sold to Foreign Buyers: Impact on the Economy 

Who is it that needs to be educated?

Number of likes shows just how lost Jamaicans are on such importance.

​@@simonwinter8839Make sure you're in class when it starts.

The more important factor is, many of the new businesses are not Jamaican-owned and financed which will result in most of the money flowing out of the country, instead of in.

We have the same problem in Puerto Rico airport telephone Electric company and more port’s are next we are getting Robbed

Better sold than sorry!

Its sad n shameful that no millionaires in Jamaica took over the company to carry on the Jamaica trade names products. But made the outsiders easily come in, hmmmm, so we don't have anything to our name. It comes like there will soon be No Jamaica coz the Chinese man has his hand deeply in beaded. In Jamaica, governments from way back when to date is just interested in their own pockets n not tht of the legacy of Jamaica identity, so to speak....🤔

@@Diamond-sf5dk No, its not. 'Cause they're business individuals and they make sound business decisions to benefit themselves, not for nostalgia. Essentially, if no other airline in the world wanted to pick up the $1B debt that Air Jamaica incurred, do you think Jamaican millionaires would have that kind of money and more importantly, be willing to do so? I hope you are joking and not being serious.

It doesn't seem so bad if you have a few shots of fun!!

Wray and Nephew was a privately owned company. It’s salebhad nothing to do with he govt whether PNP or JLP. The majority shareholder in Wray and Nephew had neither chick child nor dog to leave the company to so he sold it to the highest bidder which was his right. What we need to do is blame the Jamaican bizniz men who did not want to buy the company.

Well put, thanks for watching

We gonna get them back one day

That’s because we don’t support our own businesses, we are more known for drinking Heineken and now Heineken owns what we use to own.

​@@boogsybrooksin a yu dream Chinese a tek over.

Nuttin lef? Di devil a come fi buy wi soul !!

Thanks for watching

Blessings to you and stay safe, thanks for watching

Actually true, thanks for watching

Bring it back with what? Where's the money coming from? Do you think all of this recent development benefits Jamaica in the long run? Often, I listen to these comments from many Jamaicans that show very little understanding of how the world works. Remember, with foreign ownership, money flows out of the country not in. There might be little local employment for Jamaicans but the vast profits go out of the country.

​@@curtd5153 Wen mi pardner drop mi ago buy di plane dem !!

Bring back what we don't own . You slow 😞

I will recheck, thank you

What's the point , most foreigners take American Airlines and cheaper commercial flights to the country . Air Jamaica couldn't compete.

Thanks for watching

True story! This is one of the reasons that we should not solely rely on a non reliable source to get information.

I have decided to do a part two because there are many more, also there are many companies that were bought by the Jamaican government.

Alex, looking forward to part 2. @Patricia 🤣😂🤣😂😂

Petrojam is own 100% by jamaica gov Venezuela 51% was taken back they never had the money

Noooo never a good idea! Soon we'll have nothing left. Solely relying on imports and we have no money to spend. Atleast we still have Blue Bomber Soap. Hope they don't sell out too.

I doubt if we even own that, I will look into it

​@@HummingbirdJasay it again, please.

@@EliteJamaica woaaahh, its that bad huh? Lol

@@HummingbirdJa hahahahahahahahahahahahahahahahaha

Thank you, and thanks for watching

Jamaica owns a lot, there are also companies that were bought by the Jamaican company, video coming soon

@@EliteJamaica Make it snappy Alex as my eyes sparkled with anticipation🤣🤣🤣

Lol will do

They were almost all privately held companies. Companies divest all the time…besides jamaican companies have now been buying companies all over the globe..proven is doing it, Facey group is doing it etc…the Jamaican economy is filling building steam

​@@EliteJamaica Please! Im looking forward to this!

98% of allz d companys sold was under pnp Dont 4get mutual life an finsac

Go ahead...blame JLP for everything. Go check your facts and dates of these "sell outs" and come again!

these dirty politician they love money they would even sell their mother

That video is coming

That's for another video, thanks for watching

Since u tlkn bout bauxite , if u dont sell it wat u gonna do wid it ?

​@@GanGztaGriZZle9684Mi wi gi yuh one shilling a ton !!

What does one have to do with the other?

I will let you know in the next video

Hookers in New Kingston!

Wouldn't be surprised if corruption was behind the sales.

The airline was non existent by the time they came into power…the pnp began the divestment process long before..on a mother note..most Jamaican companies crumbled during the pnp’s tenure, just stating the facts..the 1990s was amongst the worst of times for jamaicas economy

This is absolutely true

@@raggaguru3432 I see your intent as well as Alex's. As I have stated 5 days earlier, the final documents were signed by mr Goding and mr Shaw. Whatever agreement that was made before could have easily been rejected before the final documents were signed. Keep in mind also, the Trinidad's side of the agreement was a last minute decision because the then prime minister did not like what she saw as the financial side of Air Jamaica was not promising. If you want to inject politics into the failure of Air Jamaica, be my guest. I was just stating the facts.

That is true a country should not sell its sovereign lands, it should only be leased. Thanks for watching

@@EliteJamaica another thing some countries you can not operate at 100% you need to at least join with native to do business. That one way to keep you ppl equal with any outsiders. Look how all inclusive disadvantage local . And where the money go

No this video is a part 1

Thanks Alex for this. It is sorrowful .

That's exactly what he's doing, and it's stupid because if he is bias due to his political affiliation, he's gonna lose a lot of subscribers. Attack the government and not a specific party. Jamaicans need to hold everyone accountable irregardless of party

​@@NativeNomads10curious if you could name those sold out to foreigners by the opposite party. If they did it was to Jamaicans to own shares as was the case when NCB shares were on the stock market by Mr Seaga and a lot of Jamaicans became small shareholders, Cement company in the time of Mr Seaga shares were sold to small people and the government printing office was divested by Mr Seaga to the workers to own and operate it. All of Jamaica made assets were sold under the PNP including close of the rail way plus the biggest traafwr of wealth from the poor happens under the PNP with financial meltdown when so many small businesses collapse because of the PNP economic policy of PJ Patterson and Omar Davis.The PNP is very bad at managing the economy but very very good at campaigns but they win they ruin the economy.The PNP has a dismal record of economic growth both in the 70s and 90s when they run the country. Oh the shame , it's too much to bear

The People's National Party are the ones that are known for selling, so far Andrew Holness has been the best prime minister of Jamaica so far, are you trying to deny the fact that the country's infrastructure is being upgraded and at a rapid pace. Anyway thanks for watching

Pnp

@@HummingbirdJa pj pattersion

So far, we haven’t seen that. The vast majority of companies that were sold to foreigners happened under the pnp, specifically in the 1990’s….those are facts not opinion…besides jamaicas economy is finally gaining traction so companies are less likely to be divested when things are going well.

@@EliteJamaica You are exactly why unqualified and misinformed people should not be spreading misinformation. Your attempt at making a correlation with the PNP and the companies sold lacks objective knowledge and credibility. (it’s a reach) Also you believe that Holness is the best prime minister… that speak volume on how your opinions/views are based on misinformation.

Air Jamaica had to be sold after the PNP ran it into bankruptcy. Thank you for watching

​@@EliteJamaica Butch Stewart ran it into the ground