63% of computers are affected by dangerous viruses in Vietnam which is 3x the Vietnam average, will Vietnam be able to prevent it? : Ken Research

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Vietnam Cyber Security Industry, which surged ahead with over 17% year-on-year growth in 2021. Ministry of Defence has created Cybersecurity Operations Command to protect the country’s sovereignty in cyberspace, research and predict online wars & manage IT security within Vietnamese People’s Army (VPA), as per findings released by Ken Research.

1. Vietnam has seen increased cyber-attack vectors, artificial-intelligence attacks, among others, in the recent years.

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In the above data chart, a massive spike in cyber threats in 2016 is due to major three reasons, the system of Vietnam’s flag carrier Vietnam Airlines was breached, and the personal information of 400,000 of its frequent-flyer club members was dumped online. In the same year A Vietnamese bank had foiled an attempted $1m cyber heist that involved the use of fraudulent messages, in the Swift messaging system.

2. Development of a local cyber defense infrastructure as the government increases its preparedness for cyberattacks-

• Creation of 21 company-strong “Made in Vietnam alliance” of local cybersecurity firms to collaborate on information security technologies
• Vietnam Information Security Association (VNISA) & Vietnam Computer Emergency Response Team (VNCERT) collaborate with member cybersecurity companies to conduct awareness seminars & summits.
• Participation of experts of local companies such as Bkav, Viettel, VNPT, FPT, CMC in ASEAN Cybersecurity Drills

3. Adoption of Cybersecurity Solutions in Vietnam can be classified

Into 3 major groups

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• Standalone Security Products include - Firewalls, Antiviruses, security gateways, IPS etc.
• Managed Security Services include – Network, application, cloud, mobile securities.
• Professional Services include – Consulting, Security Audit, penetration testing, etc.

Standalone Security Products Dominating Cybersecurity Solutions in the Country, as most of the software and computers comes with pre-installed firewalls, and antivirus are most easy to access by general public.

4. Role of Cutting Edge-Technologies in Developing Cybersecurity Solutions

• AI allows enterprises to perform Vulnerability Management, improve Threat Hunting levels, stimulate better Network Security and monitor critical Data Center processes for better maintenance.
• Blockchain-enabled cybersecurity works on the basis of the technology’s peer-to-peer network fundamentals, and is thus able to create an impenetrable network for hackers
• Big Data enables experts to store huge amounts of data, allowing inspection of network and detection of anomalies in the network.
• Cloud security enables enterprise-security management tools such as sign-in location checks and multi-factor authentication on personal systems of employees, thus guarding against common phishing attacks

Foreign Products Dominating Cybersecurity Product Ecosystem

• Imported Cybersecurity solutions from US, Korea, Singapore, Russia, Japan & China have superior quality, better results & better usability.
• Cisco, Microsoft, Kaspersky, IBM, McAfee are brand names commanding a higher leverage in Vietnam ecosystem due to proven results over sustained periods.
• While local solution portfolio is growing, it is currently limited to Antivirus, Firewall, End-Point Security, VPN, IDS/IPS & Anti-Malware on the product side.
• Limited skilled talent & insufficient know-how about information security systems in the country, impairs the domestic solution development capabilities in Vietnam.
• While state agencies have been mandated to promote usage of locally-developed products, commercial sectors (banking, healthcare, IT etc) prefer imported solutions.

 Governments Role in preventing Cyber attacks

Vietnamese Government aims to improve the country’s 50th rank (out of 194 regions) in the Vietnam Cybersecurity Index 1. Vietnam has created multiple bodies like Cybersecurity Operations Command, Cyber Warfare Unit, Vietnam Computer Emergency Research Team (VNCERT), Project 99 & Decision 893. It is responsible for database system operations and enforces information security legislation, promoting general awareness of Vietnamese towards cybersecurity. I

However, it is yet to be seen how the future of Vietnam cyber security industry will pan out with evolving cyber threats every year.

For more insights on the market intelligence, refer to the link below:-

Vietnam Cyber Security Market

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Cybersecurity Market Revenues Growing at CAGR of 17.4%, Will Vietnam able to sustain it? : Ken Research

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About 66% of Vietnam’s 70k+ websites are estimated to be infected with viruses/malware. The government is playing a vibrant role in propagating the importance of having a secure cybersecurity infrastructure in organizations.

1. Cyberattacks have a huge financial impact on Vietnam's economy

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• 3% Companies in Vietnam that faced 24 hrs. or more of downtime after most severe breach; Global figure: 4%

• 2% Proportion of computers affected by dangerous viruses in Vietnam, 3x the global average

• Vietnam’s global rank 6th in number of local cyber threats

• 75 Mn # of Internet-borne cyber threats in Vietnam in 2019

2. Phishing majorly affects all the computer systems in Vietnam, thus boosting the market.

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• 7% of Mobiles infected with Malware in 2022 only.
• 7% of Attacks by Crypto miners in the year 2022.
• 5% of Users affected with Financial Malware Attacks and around 12% of Computers infected by Malware.
• 0% of organizations in Vietnam receive up-to 5,000 security alerts daily, while 29.0% 5receive more than 50,000 daily.

3. Why Cyber Threats in Vietnam are rising at unprecedented rates?

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• Rise in number of devices available per person, weak organizational information security infrastructure.
• Political Disputes with neighbouring China, downloading of Themes/Plug-ins from Suspicious Sites and outdated Website versions & operating systems.
• Insufficient Human Resource Potential: Vietnam faces a challenge of limited number of cyber experts in the country, because of which the product ecosystem is dominated by foreign enterprises in cybersecurity
• Limited Cybersecurity Awareness: Lack of technical knowledge about information security & its importance is one that plagues organizations in Vietnam
• Budget & Maintenance: Allocation of funds towards information security is always a challenge in organizations in Vietnam.