Joseph Lowe, director, Maritime and Transport Group

Jamaica's economy may experience little or no growth in 2014. In my opinion, at best, 0.1 per cent growth may be achieved, as I have not heard of any short-term strategies to encourage investments to create jobs, which is necessary for growth.

The present International Monetary Fund agreement has forced the Government to meet some very strict guidelines, and it is evident that the minister of Finance is determined to toe the line to pass the quarterly tests.

domestic imports

One positive sign on the horizon is the agreement to allow the development of the Goat Islands to form part of the Government's logistics hub plans. However, this will not affect the economy possibly before the last quarter of 2015 into 2016. This should coincide with the opening of the expanded locks in the Panama Canal, which I hope that Jamaica can capitalise on any benefits that are to come as a result.

With regard to the shipping industry, while it is expected that domestic imports will continue, with the lack of foreign exchange and consumers having less money to spend, we cannot expect an increase in this area. This will negatively affect businesses in the shipping industry that are solely dependent on domestic cargo. As a result, businesses must ensure they control their expenses as income will be flat.

At this point, it is my belief that the Government needs to put the right strategies in place to encourage foreign investments. The country is in urgent need of foreign and local investments to spur growth and employment. This is an area in which we are lacking.