Vietnamese businesses need to promote localization of network security

Recently, VCS’s Chief Strategy Officer – Mr. Nguyen Xuan Nam, shared with Ken Research on issues surrounding the development of a network security ecosystem in the country, the role of the Government and the position of the Company. Viettel network security company in Vietnam market.

Mr. Nguyen Xuan Nam – Strategy Director of Viettel Internet Security Company

Expert: How do you comment on the impact of the law on the field of food safety in Vietnam?

Mr. Nguyen Xuan Nam: The government is focusing on national security. It is recommended that organizations spend a minimum of 10% of their annual IT investment budget on security services. Security solutions and services should be provided from domestic companies such as Viettel, CMC, Bkav,…. The government is focusing on the development of domestic enterprises and in the near future, international businesses may have to compete in the Vietnamese market.

Expert: In your opinion, how will technologies such as IoT, Blockchain, 5G, cloud computing affect the cybersecurity environment in Vietnam?

Mr. Nguyen Xuan Nam: The most obvious is the development of technology and the increasing demand for IT services due to new projects such as E-gov, Smart City, leading to the demand for network security services. The above technologies should be integrated with advanced technology solutions in securing network information, minimizing risks of information insecurity and security.

Expert: In your opinion, which industries do cybersecurity companies serve mainly? What are the challenges facing the user?

Mr. Nguyen Xuan Nam: Currently, Banking and Finance is the industry with the greatest concern to security and security. Viettel Cyber ​​Security Company has provided end-to-end security solutions for businesses in the industry, such as SOAR, SIEM, EDR and Threat Intelligence and Threat Hunting and Pentest services.

In addition, in my opinion, users are not fully equipped with security knowledge to deal with problems, most still use traditional products to fight viruses such as firewalls, email security. death.

Launching ceremony of Viettel Threat Intelligence

Expert: 2020 is an unforgettable year due to the impact of the COVID-19 pandemic. In your opinion, will this issue affect the domestic cybersecurity industry?

Mr. Nguyen Xuan Nam: We can see the biggest impact is that client budgets are reduced and competition with foreign companies has also increased.

In order for a foreign company to participate in our market, it is necessary to find at least one local distributor to connect with customers and offer suitable products / solutions. For local companies, the challenge is getting a license from the Government to sell their products and services.

Expert: Can you tell us something about Viettel Cyber ​​Security? What makes the company one of the top names in the country?

Mr. Nguyen Xuan Nam: Viettel Cyber ​​Security became an independent company from 2019. Before that, the company operated as an internal security center under Viettel Group. We currently offer 3 main services: security management services, independent products and professional services with three distributors, Nam Truong Son (NTS), IDC Group and Innet. The Company’s major customers are Vietcombank, MBBank, VPBank, Vietnam Airlines, EVN and a number of other agencies, departments and sectors.

Of the total market share of about 66-67 million USD, VCS accounts for about 15% of the market share, the highest compared to domestic security companies.

Expert: It is known that VCS has changed its strategy in business model, what is the reason behind the business model transformation?

Mr. Nguyen Xuan Nam: Previously, VCS implemented the direct selling business model, but now we have switched to the supplier model. Accordingly, the product is sold to the Distributor for transfer to the Dealers and then to the customer. This change makes it easier to expand the market and products / services of VCS to customers.

Expert: In your opinion, which technology trends will master in the coming time?

Mr. Nguyen Xuan Nam: The changing trend in the coming time can include the shift to the cloud computing model. In addition, data privacy and IoT are expected to flourish in the future. All of this creates a new scope for security services.

Ken Research is the world’s leading market research and data analysis company from India. Every year, Ken Research publishes prestigious reports on industries in different markets, including an Assessment of Information Security Market Potentials in Vietnam.