How can Vietnamese SMEs strengthen their cyber security?

How can Vietnamese SMEs strengthen their cyber security?

The answer lies in raising awareness about cyber threats and risks, particularly for small and medium-sized enterprises (SMEs) in Vietnam that are susceptible to losses and reputational damage under attack.

Vietnam’s rapidly expanding digital ecosystem offers numerous opportunities but also exposes organisations to cyber threats, presenting challenges that are being addressed by the ongoing collaborative efforts between Vietnam and Australia, among others. 

The Australia Vietnam Policy Institute (AVPI) together with the RMIT Centre for Cyber Security Research and Innovation (CCSRI) has released a policy briefing “Cyber readiness: Enhancing cyber security awareness and capacity building for SMEs in Vietnam”. The report outlines the current cyber security landscape in Vietnam, ways of enhancing cyber security awareness and developing cyber resilience. Supported through funding from the Australian Department of Foreign Affairs and Trade (DFAT), this policy brief offers recommendations and insights to improve these enterprises’ cyber security awareness and capacity building.  

The rapidly expanding digital ecosystem in Vietnam offers numerous opportunities but also exposes organisations to a myriad of cyber threats (image: Freepik).  The rapidly expanding digital ecosystem in Vietnam offers numerous opportunities but also exposes organisations to a myriad of cyber threats (image: Freepik). 

Recently, a series of cyber security events co-hosted by the CCSRI and Vietnam Information Security Association (VNISA), funded through the DFAT, have been held in Hanoi and Ho Chi Minh City, including the Cyber Security Bootcamp for Vietnam Electricity (EVN), the Cyber Security Ambassador Program for EVN, and the launch of the Cyber Security Awareness Seminar. The events have concluded with the unveiling of this report. 

Amidst the prevalence of cyber security incidents, SMEs emerge as particularly vulnerable targets. A BKAV assessment underscores this susceptibility, revealing that computer viruses cost Vietnamese organisations 21.2 trillion VND in 2022. Furthermore, the National Cyber Security Centre of Vietnam reports a notable 9.5 per cent year-on-year increase in cyber-attacks, with a total of 13,900 incidents recorded in Vietnam in 2023.  

Associate Professor Pham Cong Hiep, Head of Business Innovation Department, and Interim Deputy Dean of Research and Innovation, The Business School, RMIT University Vietnam pointed out: “SMEs in Vietnam face significant challenges in recognising and addressing cyber threats, including a lack of resources, technical expertise, and awareness of cyber security risks”.  

AP Pham Cong Hiep spoked at the recent Cyber Security Awareness Seminar co-organised by CCSRI and VNISA. AP Pham Cong Hiep spoked at the recent Cyber Security Awareness Seminar co-organised by CCSRI and VNISA.

Dr Jonathan Crellin, RMIT Program Manager in Cyber Security, commented: “The large multinational companies moving into Vietnam often depend on a supply chain which is from smaller Vietnamese-owned businesses. This creates a vulnerability in the supply chain, which, in the worst case, can lead to large companies withdrawing from Vietnam because they are at risk.  

“Smaller businesses are often notorious for not putting a lot of resources into cyber security, resulting in underdeveloped cyber security measures. Addressing the cyber security issues is crucial to preventing threats, and maintaining Vietnamese industrial growth and expansion”. 

In the 2022 Vietnam SME cyber-fitness survey conducted by the CCSRI, alarmingly, 13 per cent of respondents felt that employee cyber security awareness was not important at all. Meanwhile, the AVPI policy briefing shows that 95 per cent of cyber security breaches are attributed to human error. 

Associate Professor Hiep underlined that enhancing cyber security awareness among SMEs is crucial for reducing the risk of cyberattacks and ensuring the sustainability of Vietnam's digital economy.  

“By offering practical guidance through awareness-raising events and resource portals, SMEs can better protect themselves against cyber threats and contribute to building a more resilient and secure digital ecosystem”, Associate Professor Hiep said. 

International partnerships, such as RMIT and VNISA, play a crucial role in enhancing cyber security for SMEs in Vietnam. International partnerships, such as RMIT and VNISA, play a crucial role in enhancing cyber security for SMEs in Vietnam.

Empowering international partnerships also play a crucial role in enhancing cyber security for SMEs in Vietnam. These collaborations bring together policymakers, businesses, and other organisations, to cooperate in developing and implementing cyber security initiatives. Through these partnerships, Vietnamese SMEs can benefit from the expertise, resources, and best practices of international partners. 

Associate Professor Hiep said “Capacity building programs, informed by self-assessment tools such as train-the-trainer initiatives and digital resource centres, can improve cyber security awareness and practices among SMEs.  

“Collaboration among policymakers, businesses, and other stakeholders is crucial in creating a resilient digital ecosystem that supports the growth and development of SMEs in Vietnam”. 

Download the full report here. 

22 February 2024

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