On the morning of December 2, 2022, the seminar titled “VIETNAM CYBERSECURITY MARKET – TRILLION-DOLLAR INDUSTRY” of Cyber Security Technology Village, organized by VSEC as the head within the framework of the TECHFEST 2022 series of events, officially took place. More than 50 guests participated in the event directly at the Binh Duong Convention & Exhibition Center.
In the opening speech, Mr. Pham Hong Quat, Director of the Science and Technology Enterprise and Market Development Department, stated, “Within the overall framework of this year’s TECHFEST seminars, I believe this to be a seminar of high professional quality and significant practical significance. All of the speakers are “real combatants” who will discuss their own and international perspectives, opportunities, and challenges that stand in the Information Security industry. This is also the objective of TECHFEST’s knowledge dissemination within the community.”
“Vietnam Cybersecurity Market – Trillion-Dollar Industry” is not only the title of this year’s Seminar of Cyber Security Technology Village, but also the most prominent topic shared by Mr. Truong Duc Luong – Chairman of the Board of Directors of The Vietnamese Security Company Network (VSEC) – in his opening speech. According to statistics collected by the State Administrative Agency, the growth rate of information security enterprises from 2017 to the present has been relatively rapid. Compared to 2017, there were only 23 enterprises in the field of information security; the number of enterprises has increased by a factor of five; This is an impressive figure that demonstrates the development of the information security industry over the past five years. However, technology companies are fewer than expected. Innovation and creativity will be TECHFEST’s primary concentration on production units, but production units are still relatively small compared to import or service units.
With an average annual growth rate of 30%, the scale of Vietnam’s information security market in 2022 will be approximately USD 137 million, or four times the country’s GDP. This is an above-average industry growth rate compared to other industries. The number of information security enterprises in other countries is six to seven times greater than that of Vietnam, despite the accelerated growth of Vietnamese enterprises. Mr. Truong Duc Luong expressed at the seminar, “Vietnam is in the process of accelerating its digital transformation, which affects not only enterprises or government agencies but also all individuals. Vietnam is a large market, and the demand for information security is very high – this is a strong driving force for the development of the information security industry, and the market value will not stop at USD 137 million but will grow into billions.
Automation is essential for accelerating business growth
“Digital transformation currently faces multiple challenges. Particularly, both the quantity and quality of human resources to operate the information security system in Vietnam are inadequate”. In the seminar, Mr. Vu Thanh Cong, the Deputy Director of Nessar Vietnam Technology Joint Stock Company, made this affirmation. He shared the content “Automation in management, monitoring, and operation of the Information Security System” to address the problem of a lack of human resources in the cybersecurity industry. The presentation comprises of three major sections: Automation in policy management; Automation in evaluation and testing; and Automation in information security system collection, analysis, monitoring, and operation.
Mr. Vu Thanh Cong concluded by emphasizing: “Automation is essential for businesses, particularly startups, that must participate in the operation of the information security system during the digital transformation process. If we want to be quick, we must automate many processes, including operation monitoring.”
Mr. Vu Thanh Cong shared at the Seminar
Developing healthy and competent digital citizens of the future
The world in general and Vietnam in particular are in the era of 4.0, also known as the era of digital transformation, which is characterized by numerous new and swift changes. This forces individuals to evolve in order to keep up with new trends and survive in this era of speed and technology. Children and adolescents are the future’s primary workforce, as well as the generation that has witnessed and continues to experience the transition to the digital era of humanity. Ms. Luu Thuy Anh, Co-Founder of CyberKid Vietnam and Master of Positive Psychology, stated, “Children and young people must be cared for and assisted in their development more than anyone else in order to head into the future with sufficient confidence and stability. To achieve this, they must possess Digital Competence, which includes the skills, knowledge, and attitudes required to adapt, endure, and flourish in the digital world.”
Diễn giả Lưu Thuỳ Anh – Co-Founder CyberKid Vietnam
At the seminar, CyberKid representatives shared data and information about the situation in the world as well as in Vietnam so that everyone could see the current state of human resource development in the digital age, and then go through and refer to digital citizenship development models from around the world in order to learn and develop a healthy and talented generation of digital citizens in Vietnam
67% of the Vietnamese market does not completely comprehend the Supply Chain Attack to protect themselves
In 2022, Ransomware and Supply Chain Attacks are compared to a “cyber attack pandemic” due to their pervasiveness and severe impact on all existing Internet-based enterprises. In this presentation, ChongLuaDao and CyberJutsu will use case studies to provide a more realistic perspective on how to find solutions, “vaccines”, and “treatment regimens” for this pandemic.
Speaker Nguyen Manh Luat – Founder & CEO of CyberJutsu Academy Information Security Training Center shared information to help people understand ransomware as well as the size and organization of ransomware criminal groups. There are two main types of very sophisticated Ransomware: Gang Ransomware and Ransomware as a Service (multi-level model). The cost of purchasing 1 ransomware service to shut down a business is minimal (VND 980,000), but the resulting damage is enormous.
In addition, Mr. Manh Luat said, “67% of the Vietnamese market does not completely comprehend the Supply Chain Attack to protect themselves.” A supply Chain Attack is a supply chain of attacks, with a very dangerous spread. However, very few Vietnamese market participants mention it. has presented case studies in Vietnam to help audiences visualize its influence in order to comprehend it. Lastly, he described the “vaccines” and “treatment regimens” that businesses should implement in the short and long term to prevent and mitigate the damage caused by Ransomware and Supply Chain Attacks.
With 4 presentations on topics such as “Trillion-dollar industry – Vietnam Cybersecurity Landscape”; “Automation in management, monitoring & operation of Information Security System”; “Developing a healthy and competent digital Citizens of the Future”; and “Ransomware + Supply Chain Attack and things we should know” shared by experts at the seminar, questions regarding how to construct, operate, and manage an information security system for network security were partially supported and answered.
Let’s take a look at the highlights from the last seminar!
