Vietnamese firms on better footing in cyber security market

The Vietnamese cyber security market, which was previously flooded with solutions developed by foreign businesses, have become more balanced, and domestic firms are tend to be on a better footing.

Vietnamese firms on better footing in cyber security market

According to the Authority of Information Security under the Ministry of Information and Communications, the ratio of Vietnamese-developed information security and cyber security products’ types in the domestic market rose to 91 percent in 2020 from only 5 percent in 2015. The figure is estimated at 100 percent in 2021.

Meanwhile, the ratio of revenue from the products of Vietnamese firms compared to that of their foreign peers also increased from 18 percent in 2015 to 45 percent in 2020 and is expected to hit more than 50 percent in 2021 and over 70 percent in 2025.

Particularly, Vietnam is among few countries that have developed an ecosystem of domestic cyber security and safety products to become self-reliant in cyber security and safety technologies and solutions.

Minister of Information and Communications Nguyen Manh Hung underlined that the mission of Vietnam's cyber security and safety is to protect the country’s prosperity on the cyber space. The target is making Vietnam a strong country in cyber security and safety that can export cyber security products and services to other countries in the region and the world, he said.

 

In 2025, the ratio of home-grown cyber security solutions and product types is expected to reach 100 percent, while the revenue growth rate of Vietnamese businesses is expected to reach 35-45 percent per year.

Alongside, the Vietnamese cyber security market size is projected to hit over 500 million USD, with local firms holding more than 50 percent of the market share. In the year, Vietnam is hoped to enter the top 30 countries in the world in Global Cybersecurity Index (GCI) and top three in ASEAN.

Statistics from the Ministry of Information and Communications showed that currently, the ratio of investment in cyber security in Vietnam remains low at about 5 percent of the total investment in information technology, far behind the average ratio of other countries at 15-20 percent. The ministry is striving to raise the figure to about 20 percent.

Source: VNA

Cyber security becoming a big concern for firms, individuals

Cyber security becoming a big concern for firms, individuals

Cyber security is now a concern for everyone, said Deputy Minister of Information and Communications Nguyen Huy Dung at the Vietnam Security Summit 2021.

 
 

Other News

.
Mekong Delta expands environmentally-friendly shrimp-rice farms
Mekong Delta expands environmentally-friendly shrimp-rice farms
SCI-TECH & ENVIRONMENTicon  14/12/2021 

The Cuu Long (Mekong) Delta is expanding its shrimp – rice farming areas as the cultivation model is efficient and sustainable, adapts to climate change, and is environmentally friendly.

Google Doodle celebrates Vietnam's "pho"
Google Doodle celebrates Vietnam's "pho"
SCI-TECH & ENVIRONMENTicon  13/12/2021 

The digital world honors one of the most outstanding Vietnamese dishes - "Pho" or hot noodle soup with beef.

Winners of Make in Vietnam Digital Technology Product 2021 Awards announced
Winners of Make in Vietnam Digital Technology Product 2021 Awards announced
SCI-TECH & ENVIRONMENTicon  13/12/2021 

Four products received the gold prizes of Make in Vietnam Digital Product Awards 2021 at a ceremony held on December 11.

Digital transformation to be the focus of socio-economic development
Digital transformation to be the focus of socio-economic development
SCI-TECH & ENVIRONMENTicon  12/12/2021 

Digital transformation will be the focus to effectively control the pandemic and restore socio-economic development over the next two years, Prime Minister Pham Minh Chinh has confirmed.

Strong commitment needed for sustainable development of planet: Minister
Strong commitment needed for sustainable development of planet: Minister
SCI-TECH & ENVIRONMENTicon  12/12/2021 

Vietnam’s commitment at COP26 was appreciated by leaders of countries and big corporations around the world.

Stricter measures needed to protect wild animals in Vietnam
Stricter measures needed to protect wild animals in Vietnam
SCI-TECH & ENVIRONMENTicon  12/12/2021 

Illegal trafficking of wild animals remains a problem in Vietnam despite the efforts of the Government and wildlife preservation organisations. 

EURO 2021 schedule, materials for online learning top internet searches in Vietnam in 2021
EURO 2021 schedule, materials for online learning top internet searches in Vietnam in 2021
SCI-TECH & ENVIRONMENTicon  11/12/2021 

Google has announced the Top 10 trending searches in Vietnam 2021 which show the great impact of the Covid-19 pandemic.

3rd Vietnamese wins Noam Chomsky Award
3rd Vietnamese wins Noam Chomsky Award
SCI-TECH & ENVIRONMENTicon  11/12/2021 

Tran Le Huu Nghia - a Vietnamese origin doctor - is the third Vietnamese to receive the A. Noam Chomsky Global Connection Award.

Vietnam transfers 5 million tons of CO2 to get US$52 million for forest protection
Vietnam transfers 5 million tons of CO2 to get US$52 million for forest protection
SCI-TECH & ENVIRONMENTicon  11/12/2021 

The Ministry of Agriculture and Rural Development has signed an agreement with EMERGENT on the transfer of emission reductions.

Vietnam encounters challenges launching Mobile Money service nationwide
Vietnam encounters challenges launching Mobile Money service nationwide
SCI-TECH & ENVIRONMENTicon  11/12/2021 

The introduction of the Mobile Money service in Vietnam raises a question of its possible attractiveness, as people can easily use the Internet for their financial activities.

Vietnam’s tech businesses prosper amid pandemic
Vietnam’s tech businesses prosper amid pandemic
SCI-TECH & ENVIRONMENTicon  10/12/2021 

Since the Covid-19 pandemic began, technology businesses have shown their potential by maintaining an impressive growth momentum.

Huge potential for digital economic development in Vietnam: report
Huge potential for digital economic development in Vietnam: report
SCI-TECH & ENVIRONMENTicon  10/12/2021 

Bain & Company, in association with Tech for Good Institute – TFGI, has released a report on the platform economy in Southeast Asia, focusing on the Vietnamese market.

Digital transformation to be main driver for Vietnam’s economic recovery, development
Digital transformation to be main driver for Vietnam’s economic recovery, development
SCI-TECH & ENVIRONMENTicon  09/12/2021 

The National Forum for Development of Digital Technology Businesses 2021 will discuss solutions that will enable digital transformation to be the driving force for economic recovery and development.

Digital transformation: one touch buys a bus ticket
Digital transformation: one touch buys a bus ticket
FEATUREicon  09/12/2021 

Digitizing public transport has led to practical benefits for consumers.

Former well-known hacker to publish autobiography
Former well-known hacker to publish autobiography
SCI-TECH & ENVIRONMENTicon  09/12/2021 

Ngo Minh Hieu, or Hieupc, who once operated a massive international hacking and identity theft scheme, has revealed that he will publish a book about his life, especially the time in jail in the US.

CNN broadcast highlights sneakers made from coffee grounds
CNN broadcast highlights sneakers made from coffee grounds
SCI-TECH & ENVIRONMENTicon  08/12/2021 

Vietnamese sneakers made from discarded coffee grounds and plastic bottles have been introduced by CNN in their “Innovate” programme.

Vietnam accounts for nearly half of brute-force attacks versus RDP
Vietnam accounts for nearly half of brute-force attacks versus RDP
SCI-TECH & ENVIRONMENTicon  08/12/2021 

Kaspersky detected more than 47 million remote desktop protocol (RDP) threats in Vietnam in the first half of 2021, accounting for nearly half of all cases in Southeast Asia.

Over 1,000 organizations in Vietnam capable of supporting startups
Over 1,000 organizations in Vietnam capable of supporting startups
SCI-TECH & ENVIRONMENTicon  08/12/2021 

Vietnam currently has over 1,000 organizations capable of supporting startups, including technology startups, with 202 coworking zones, 79 business incubators and 38 business promotion organizations.

Malware threatens businesses in digital age
Malware threatens businesses in digital age
FEATUREicon  13/12/2021 

The digital economy has more opportunity for cyberattacks, especially from ransomware. The more businesses and users use technology online, the more opportunities hackers have to expand their attacks.

Vietnam's rise in digital transformation
Vietnam's rise in digital transformation
FEATUREicon  12/12/2021 

Digital transformation in the economy is expected to contribute significantly to the policy of improving efficiency in Vietnam.

 
 
 
Leave your comment on an article

OR QUICK LOGIN