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And as Vietnam continues, its digital
transformation, protecting data, and
strengthening cyber security have become
increasingly important priorities.
>> Yes, Ze. And it's particularly reflected
through a series of new cyber security
regulations, including decree 331 on
protecting information systems, which
has recently taken effect in Vietnam.
Together, the new rules reflect a
broader shift. Cyber security and data
protection are becoming core priorities
for the digital economy.
It was recently discovered that data
belonging to more than 50 million people
was leaked and illegally traded in a
nationwide cyber crime case in Mayan
province. Similar breaches are being
used to fuel increasingly sophisticated
online scams.
Previously we talked mainly about
information security. Now the focus is
increasingly on cyber security and data
security. These degrees have clarified
the new legal framework and make
implementation easier.
Vietnam's [music] new cyber security
rules require businesses to tighten the
system controls, detect risk [music]
early, and have protocols in place for
cyber attacks and data breaches.
The message is very clear. Protecting
customer data is no longer optional, is
mandatory.
Organizations must implement stronger
security measures to make their systems
safer and more resilient.
The new rules are also opening
opportunities for domestic cyber
security firms to develop new solutions
and technologies.
This creates a very good opportunity for
businesses. Once we know what solutions,
services and procedures are required for
each system, domestic companies can use
those requirements as a basis to develop
new products and services or even build
core cyber security technologies that
contribute to the country's development.
Penalties have also increased with
violations involving crossber transfers
of personal data facing fines of up to
5% of the previous year's revenue. The
message is clear. Cyber security is no
longer just an IT issue, but a wider
responsibility involving compliance,
management, and trust.
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