Economic Trends

Economic Trends

     Source www.cubaron.com

When a product shows the highest quality, it invites you to taste it. That is one of the main directives of the Corporation Cuba Ron S.A., an important Cuban entity specialized in the elaboration of rums, sugarcane liquors, juices and compotes, besides baking powder, which is used for bread production.

Cuba Ron S.A. has improved and strengthened all its companies and enterprises, as an attempt to preserve the rum history, tradition and heritage. At the same time, this corporation has extended its productions to different markets, elaborating products which satisfies the finest tastes.

According to its president Juan González Escalona, Cuba Ron S.A. is composed by mixed enterprises. One of them is Havana Club International, associated with the French company Pernord Ricard, which is considered the second liquor group in the world. Through that company, the leading brand Havana Club reaches more than 120 countries. Rum exportation is the main source of incomes to Cuba Ron S.A. Last year, it exceeded the expected outcome in 8%.

González Escalona stated that: “Our main goal is to accomplish our plans efficiently and to ensure that incomes continue growing for Cuba”. He also pointed the growing performance of the well-known brand Havana Club. “We have got access to new markets, and we work systematically in order to position our product on those where it does not have enough expansion”

He also said that "the Corporation will keep growing and all measures to achieve that goal have been taken. We are focused on expanding our exportations towards the Asian continent, where we still do not have a significant participation to satisfice our growth requirements". Another strong aspiration is "to expand exportations to Latin America, because there is an important rum market in the region, even when there is also the competence of local typical products, which are basically sold due to a great promotion and advertising, but without having the standard levels of quality, compared to our rum".

The president Escalona also stated that, in the case of Havana Club, "it does not count only on external sponsoring to guarantee the investments, but also the projections until 2030, which are derivate from the market studies implemented by our international distributor. Nowadays, we sell 4.5 million rum boxes and for that year, we hope to reach 6.5 million; 70% as exportations and the rest for national market”.

Other brands like Cubay, Arecha, Varadero, Santiago de Cuba, Isla del Tesoro, Perla del Norte and Legendario, are associated with Cuba Ron, grouping about 1,800 workers.

An added value to the traditional drink which is produced in Cuba, is the knowledge of the Rum Masters. "There are eight in Cuba: seven males and one female. It is like a chain that has never lost a single link”, said González. The older of those Masters is José Pablo Navarro. He is 75 years old and he is from Santiago de Cuba.  Along with Carlos González Delgado, who is from Mayabeque, José has the category of First Master.

The director mentioned some steps that have been taken to incorporate new brands, including Isla Grande. This brand’s image was recently launched, as the tasting of its four basic products was taking place.

“Cuba got to the Food Industry Worker National Day, on January 25th, with joy and delight, having achieved its main plans for 2016. There´s no greater pleasure than accomplish with our duty” he stated.

On last January 31st Haila María Mompié started to produce a video clip for her new song Santiago mi Santiago, to dignify the Cuban Rum Masters labor. The main locations for the filming will be the rum factories in Santa Cruz, San José, Cárdenas, Villa Clara and Santiago de Cuba. The video will be directed by Pedro Vázquez.

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Headlining News

  • The Cuban government has begun to pay ahead of schedule the debt which was renegotiated with more than a dozen international creditors, in a first step to settle outstanding accounts that historically has been dragging, reported Reuters. Havana sealed in December 2015 an agreement with the Paris Club countries and managed to get 14 governments to forgive him 8,500 of 11,100 million still pending. The repayment of the remaining amount was structured over 18 years and the first payment of about $ 40 million, was made before October 31. "The Cuban government has paid the first installment and has done soon", said the French Ambassador to Cuba, Jean-Marie Bruno. Under the agreement with the Paris Club the 14 countries had a year to sign restructuring pacts that could include the establishment of local accounts, where a percentage of the money owed would be earmarked for development projects.

  • At the fairgrounds Expocuba more than 75 countries and 4 500 exhibitors have gathered since this Monday to seek business opportunities in the Caribbean largest shopping bag. Until November 4 Cuban entrepreneurs can showcase their results in the production of goods and services and present their interests in the search of foreign investment. Aiming for this, the Ministry of Tourism has arranged a larger exhibition area at the fair, for which presents a portfolio of 127 investment projects, including 25 for the construction of hotels, 97 in the form of hotel management with or without external financing and five dedicated to marine management. United States, Spain, France, Italy and Japan increased their participation, and Venezuela, China and Russia are the partners of the island most represented at the meeting.

  • The Roswell Park Cancer Institute, based in the city of Buffalo, will hold in the United States a clinical trial of a Cuban vaccine against lung cancer. The goal is to test the CimaVax-EGF, a treatment developed by the Molecular Immunology Center in Havana. The institute, one of the most important of its kind in the world, becomes the first American medical institution to receive approval from the Food and Drug Administration to test a Cuban medical therapy in that country. The clinical trial is expected to begin in November and to involve roughly 60 - 90 US patients. Although CimaVax-EGF does not provide a cure of the disease, it contributes to slow the growth of tumors and is less toxic than chemotherapy. In this regard, it has already shown promising results in Cuba, and other countries like Peru, Colombia and Bosnia and Herzegovina.

  • One of the most important groups in the contemporary world scene will tour Cuba. Odin Teatret will carry out from October 30 to November 25 a tour through several provinces. Based in the Danish town of Holstebro, Odin Teatret is led since 1964 by the Italian master Eugenio Barba. During his stay in Cuba they will present eight shows, which include one-person and group shows as well as a program of lectures, workshops, work demonstrations, audiovisual presentations, master classes and other exchanges. The tour will cover the cities of Las Tunas, Sancti Spiritus, Matanzas, Santa Clara, Camagüey, Pinar del Rio, Bayamo, Santiago de Cuba and Havana.

  • 25th edition of International Ballet Festival of Havana Alicia Alonso has started. The event, one of the most prestigious in the world of dance- will take place until November 6. Among the guests are the company Buenos Aires Ballet, under the direction of Federico Fernández; Dance Americanana -group composed of figures of the New York City Ballet and the Miami City Ballet-; Ballet West, also American, and the Canadian company Les Grands Ballets Canadiens. Also integrate the list Vlovajob Pru, led by François Chaignaud & Cecilia Bengolea; Martha Graham Dance Company, founded in 1929 by the celebrated dancer and choreographer Martha Graham; and Irene Rodriguez’s (Cuba). Also attending the Festival are choreographers Daniel Proietto and Demis Volpi, both Argentinian; Colombian-Belgian Annabelle Lopez Ochoa, Cuban Alberto Mendez and Ely Regina Hernandez, who created especially for the event, the pas de deux Winter.

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