US embargo seen hindering software industry development

- Tuesday, October 25, 2011

US embargo seen hindering software industry development

The US embargo against Cuba is holding back the development of the island's software industry, local players and ICT ministry officials were quoted as saying by press reports.

According to Daisy Oropesa, general director of Cuban state-owned IT solutions firm Albet, the embargo has restricted export opportunities for the company.

With more than US$150mn in annual income, Albert currently sells IT solutions in Latin American countries - mainly Mexico, Argentina and Venezuela - as well as in Spain and Angola, and some of its 30 products could be sold to small and medium companies in the US.

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But in light of the current situation, the company has focused primarily on customers from the Bolivarian Alliance for the Americas (ALBA) trade group, Oropesa said, while exports to Spain represent only a small share.

According to the executive, the US embargo has cost the company losses valued at US$17mn.

Albet exports technology solutions developed by Cuba's Universidad de las Ciencias Informáticas.