More cyber threats are coming. Will our society be ready for them?

Vietnam’s rapid digitalisation is driving economic opportunity and social innovation, but with that progress comes exposure. In 2024 alone, 14.5 million user accounts were compromised in cyber attacks, and ransomware incidents surged by 70 per cent, primarily targeting high-value sectors like banking and public services.

Media reports have detailed cases of individuals losing their savings overnight after their bank accounts were hacked or falling victim to online scams that cost them hundreds of millions of VND. As digital tools become more central to daily life, the personal cost of cyber crime is becoming more visible and more painful. 

The country’s digital economy is expected to reach US$45 billion by 2025, with projections in the range of US$90-200 billion for 2030. By 2050, the digital economy is expected to be a major driver of Vietnam’s GDP, making strong cyber security measures essential for long-term stability and growth.

“Cyber security is needed to ensure safer transactions, resilient businesses, protected infrastructure, and a digitally empowered society,” said Dr Huo Chong Ling, Senior Lecturer in Software Engineering at RMIT Vietnam.

“Progress in this area also supports Vietnam’s continued appeal as a destination for foreign investment and technological innovation.”

Envisioning a secure smart society

By 2050, Vietnam’s major cities will be deeply integrated with digital technologies. Transportation, healthcare, education, and government services will operate through interconnected systems. Yet the more connected the system is, the more critical its defences become.

A cyber attack might not just crash a website – it could shut down a city. It could disable hospital systems, expose personal medical records, drain savings accounts, or knock out power grids in minutes. As Vietnam becomes more digital, the risks will only be more wide-ranging and affect more people.

“Securing digital societies where millions of devices are interconnected through the internet will be an ongoing issue,” said Dr Sreenivas Tirumala, Senior Lecturer in IT at RMIT Vietnam.

The RMIT academic believes Vietnam’s future digital society must be underpinned by secure identity, data, and infrastructure. Promising technologies include AI-driven firewalls that can detect threats early and decentralised digital identity solutions powered by blockchain.

“As more AI-based threats emerge, we should use AI-driven cybersecurity models to counter them. AI models are automated, adaptive, and can learn from historic and real-time data,” he said. “An AI-driven approach can help the infrastructure heal itself – at least to some extent – in case of external attacks.”

Dr Tirumala also highlighted the likely dominance of quantum computing in the future. This emerging technology promises computers that can solve very complex problems that are well beyond the limits of today’s computers. Quantum computing could be misused to break many encryption algorithms currently in place, and everyday people could lose access to care, banking, or identity protection in seconds.

“By 2050, it can be predicted that most cloud-based companies will be offering quantum computers as a service at a nominal subscription fee. There is thus an immediate requirement for developing data encryption approaches that set us up for this future”, he said. “It is also the right time for academic institutions to introduce quantum computing basics into cyber security courses to make learners industry ready.”

Policies and people must lead the way

While technology evolves quickly, Dr Tirumala and Dr Ling both stress that people and policies will ultimately determine success.

“To defend against cyber threats, especially those targeting critical infrastructure, we need national standards that ensure consistent, regulated security practices,” said Dr Tirumala.

Drawing inspiration from the Cybersecurity and Infrastructure Security Agency (CISA) in the US and similar models in Israel, China, New Zealand, and Australia, he emphasised the importance of such agencies in upholding standards and raising awareness in society.

Education remains the long-term lever. According to Dr Ling, the critical shortage of skilled professionals is the biggest weakness in Vietnam’s cyber security infrastructure. 

As of 2023, there were fewer than 4,000 professionals in the field, which Dr Ling considers insufficient to meet the growing demands posed by increasing cyber threats.

“A cyber security strategy is only as effective as the people behind it. Without a sufficiently skilled workforce, even the most well-funded initiatives and advanced technologies will fall short in defending organisations against evolving cyber threats,” he said, adding that universities will play a crucial role by fostering research and developing skilled professionals.

While Vietnam has made notable progress, including achieving a Tier 1 ranking in the 2024 Global Cyber Security Index by the International Telecommunication Union, the work is far from finished.

“We’re on the right track, but the pace must be accelerated,” said Dr Ling. “Cyber security is not just about protection, it’s about enabling the digital future Vietnam is aiming for.”

Watch the companion video:

Vietnam 2050: The vision ahead is a thought leadership series powered by RMIT Vietnam’s academic experts, exploring what Vietnam could become over the next 25 years. Each article unpacks potential major shifts – from smart cities and education to tech and entrepreneurship – offering bold predictions and practical ideas for a future-ready nation. Discover more insights here.

Story: Ngoc Hoang

Thumbnail image: Pungu x – stock.adobe.com