Catalyzing Cyber: Stimulating Cybersecurity Market through Ecosystem Development

Knowledge Graph of Debate

Session report

Felix A. Barrio Juárez

The European Union’s Next Generation Action public policy aims to stimulate economic recovery through increased investment in research and development (R&D). This policy recognizes that investment in R&D is crucial for post-COVID economic recovery, specifically in the area of digital transformation.

In Spain, one in three euros invested through the Next Generation Action programme is allocated to digital transformation. This highlights the recognition of the importance of digital transformation for economic growth and recovery. Furthermore, Spain has spent over 224 million euros on R&D for small and medium enterprises (SMEs), supporting their role as a successful strategy for market catalysation.

The digital transformation and cybersecurity sector’s contribution to Spain’s economic growth has risen from 12% to 22% in just three years. This demonstrates the significant impact that digital transformation and cybersecurity have on Spain’s national economic growth.

Cybersecurity is not only essential for economic growth but also plays a crucial role in national technological sovereignty. It allows for independence in terms of national technology and ensures the protection of critical infrastructure and sensitive data.

However, there are concerns about standards becoming barriers for smaller businesses and new entrants in the digital market. The establishment of strict standards may put small companies at a disadvantage and limit the entry of new players into the market. It is essential to strike a balance between setting standards and allowing for the participation of new entrants to foster innovation and competition.

Building cybersecurity capabilities is a top priority, and there is a call for the private sector to step up in this field. Felix emphasizes the importance of prioritising the development of cybersecurity capabilities and highlights the need for private initiative in building these capabilities.

Additionally, public services have a role to play in empowering vulnerable sectors, such as consumers, to be part of the cybersecurity solution. By focusing on the more vulnerable sectors and involving the public in cybersecurity efforts, Felix believes that public services can contribute to promoting peace, justice, and strong institutions.

In conclusion, the European Union’s Next Generation Action public policy recognises the importance of investment in R&D for economic recovery, particularly in digital transformation. Spain is investing significantly in digital transformation and supporting the growth of SMEs through R&D funding. The digital transformation and cybersecurity sector are playing an increasingly important role in Spain’s economic growth. However, there are concerns about standards becoming barriers for smaller businesses and new entrants. Building cybersecurity capabilities and empowering the public are crucial aspects of addressing these challenges.

Ir. Dr. Megat Zuhairy bin Megat

In 2020, Malaysia established a cybersecurity strategy with a five-year plan to create a secure, trusted, and resilient cyberspace. The strategy is built upon five pillars: effective governance and management, legislative strengthening and enforcement, innovation R&D, capacity and capability building, and global collaboration. It aligns with the Malaysia Digital Economy Blueprint and the IR 4.0 policy, supporting the nation’s goals of industry, innovation, and infrastructure.

One argument in favor of Malaysia’s cybersecurity strategy is that it supports other nations’ strategies and policies, highlighting the importance of partnerships and collaboration in addressing cyber threats. The strategy also aims to build a strong cybersecurity workforce by promoting it as a career choice among students and collaborating with industry and academic institutions.

However, there is a concern that an excessive focus on standards might impede innovation. While standards are crucial for efficiency and consistency, too much emphasis on them could limit the rate of innovation. Striking the right balance between standards and innovation is essential for an environment that fosters both safety and technological advancement.

In conclusion, Malaysia’s cybersecurity strategy, with its five pillars and alignment with national strategies, reflects the country’s commitment to a secure cyberspace. By focusing on education, industry collaboration, and capacity building, Malaysia aims to effectively tackle cyber threats and build a robust cybersecurity workforce. It is crucial to maintain a balance between adhering to standards and promoting innovation to ensure continued growth in the sector.

Eng. Walid A. Abukhaled

The importance of cybersecurity is highlighted in the provided data, with it being described as a top priority. There is a consensus among the arguments that cybersecurity is of utmost importance and should be taken seriously by organizations and nations alike. Daily cyber attacks targeting strategic companies and assets are a major concern, indicating the widespread risk posed by cyber threats. It is emphasized that no organization is immune from these attacks, with a cautionary message to those who believe it cannot happen to them.

SAMI, a defence system, recognizes the significance of cybersecurity and takes it seriously. It is stated that SAMI develops state-of-the-art technology to ensure independence and incorporates cybersecurity into its day-to-day business operations. This indicates a proactive approach to maintaining a robust cybersecurity strategy.

Furthermore, the argument is made that education on cybersecurity is crucial. It is stated that education is the number one issue, and the role of cybersecurity in educating people is tremendous. This underscores the need for raising awareness and ensuring that individuals are equipped with the necessary knowledge and skills to protect themselves and their organizations from cyber threats.

The data also highlights the vulnerability of Saudi Arabia to cyber attacks. It is mentioned that Saudi Arabia was previously one of the most targeted countries. This demonstrates the need for a robust cybersecurity infrastructure and strategies to protect national assets and interests.

Another noteworthy argument is the creation of a regional or global command and control centre for cybersecurity. The data suggests that establishing such a centre would facilitate the identification, sharing, and prevention of cyber threats. It is also mentioned that this centre would serve as a platform for sharing best practices and regulatory reforms, contributing to the development of future cybersecurity leaders.

The relationship between foreign investments and the safety and security of a nation is brought up as well. The argument posits that there is a direct link between safety, security, and prosperity, emphasising the importance of protecting strategic assets and investments for the future economy.

The role of small and medium enterprises (SMEs) in supporting larger organizations and fostering innovation in the cybersecurity industry is recognised. It is highlighted that SMEs play a crucial role and can bring new and innovative ideas to the table. To support SMEs, the suggestion is made that regulations should be in place to allocate a certain percentage of contracts from large companies to support them. This would create a more level playing field and encourage the growth of SMEs in the cybersecurity sector.

The value of human capital is emphasised, with Vision 2030 in Saudi Arabia prioritising investment in human capital. This indicates recognition of the importance of developing and nurturing talent in the cybersecurity field.

Furthermore, the issue of salary inflation in the cybersecurity industry is raised. It is mentioned that cybersecurity specialists with four years of experience are demanding CEO-level salaries. This suggests a growing concern regarding the escalation of salaries in the industry.

Trust is identified as an integral component of the cybersecurity industry. The data highlights the need for a regulatory framework to earn trust and address issues such as data breaches, loss of personal information, and concerns about privacy infringements through apps.

Lastly, the data points out the benefits of global cooperation in cybersecurity. It is mentioned that the Global Cybersecurity Forum provides an opportunity to learn from global mindsets, indicating the value of knowledge exchange and collaboration in addressing the challenges of cybersecurity.

In conclusion, the extended summary highlights the importance of cybersecurity as a top priority, the need for increased security in the face of daily cyber attacks, and the recognition of cybersecurity by organizations and nations alike. It emphasizes the crucial role of education, the vulnerability of Saudi Arabia to cyber attacks, and the potential benefits of establishing a regional or global command centre for cybersecurity. The relationship between foreign investments and the safety and security of a nation is underscored, along with the support needed for SMEs and the value of human capital in the cybersecurity industry. The concerns of salary inflation and the importance of trust and global cooperation are also addressed. Overall, the data presents a comprehensive overview of the various aspects of cybersecurity and its significance in today’s world.

H.E. Eng. Abdulrahman Ali Al-Malki

Cybersecurity plays a vital role in safeguarding assets and systems, although it can be costly. The protection of these valuable assets necessitates a significant budget allocation. Moreover, constant losses after cyber attacks can be mitigated through proper financial investment in cybersecurity. This perspective highlights the importance of cybersecurity measures despite the associated expenses.

A substantial cybersecurity budget not only ensures the protection of assets but also has the potential to attract global solutions and foreign companies. Nations with significant investments in cybersecurity have been successful in enticing international solutions. Additionally, a strong cybersecurity infrastructure instills confidence in foreign companies, thereby encouraging their investment. This stance emphasizes the positive outcomes of allocating a high budget to cybersecurity.

Furthermore, it is crucial to provide support and cooperation to Saudi Arabia’s Cooperation Council in their leadership role in cybersecurity. Expressing support for their efforts signifies the importance of collaboration in creating effective cybersecurity measures. This cooperative approach fosters positive outcomes in achieving cybersecurity goals.

In Qatar, a comprehensive plan has been implemented to ensure sovereign security at a national level, particularly in relation to the World Cup. This comprehensive plan encompasses a national security framework that extends across all institutions, ministries, and select private sector companies. Vigilant monitoring of the framework’s implementation on a daily basis ensures the highest level of security. Implementing such a plan demonstrates Qatar’s commitment to national security.

During the World Cup, Qatar actively cooperated with international partners, receiving support from teams of other countries. This collaborative approach involved sharing problems and challenges with friendly nations and receiving analyzed data on security threats. This exchange of information and support during the World Cup helped strengthen Qatar’s security measures.

Even after the World Cup, Qatar continues to maintain relationships with the countries they cooperated with. Ongoing sharing and receiving of data on sovereign security exemplify Qatar’s commitment to sustaining these relationships. This enduring partnership remains essential in safeguarding national security.

Building capabilities and licensing workers in the field of cybersecurity is a priority in Qatar. The country has studied two directions in this realm, focusing on enhancing cybersecurity skills and knowledge, as well as licensing workers. These efforts span across different levels, including companies, organizations, as well as individual workers and engineers. By prioritizing these actions, Qatar aims to develop a workforce proficient in cybersecurity.

Identifying and managing risks within the supply chain is critical for maintaining uninterrupted services. Even the smallest entity within the supply chain has the potential to cause complete failure of the service. Neglecting to thoroughly study and address supply chain risks can lead to significant problems. This highlights the necessity of recognizing and effectively managing risks within the supply chain.

In conclusion, cybersecurity is indispensable for protecting assets and systems, despite its associated expenses. A high cybersecurity budget attracts global solutions and foreign companies, promoting economic growth. Supporting Saudi Arabia’s Cooperation Council in their cybersecurity efforts is crucial for collaborative and effective measures. Qatar has implemented a comprehensive national security plan, ensuring sovereign security at a national level. The country actively cooperated with international partners during the World Cup and continues to maintain relationships with these countries. Additionally, building capabilities and licensing workers in the field of cybersecurity is a priority for Qatar. Identifying and managing risks in the supply chain is critical to avoid service failures. These insights shed light on the importance of cybersecurity and collaborative efforts in maintaining security and economic growth.

Moderator

Summary:

Cybersecurity plays a critical role in protecting strategic companies and assets from daily attacks. Saudi Arabian Military Industries (SAMI) is developing its defense system with a commercial mindset, ensuring cyber resilience and extreme protection. Education is crucial in mitigating cybersecurity risks, as people often underestimate the likelihood of being targeted. Clear regulations and policies are necessary to provide a framework for effective cybersecurity. International cooperation and collaboration are key to combating cyber threats, with suggestions for the establishment of regional/global command centers and sharing of threat intelligence. Consumer protection, support for SMEs, and finding a balance between standards and innovation are important considerations. Qatar has a comprehensive plan for sovereign security, while international collaborations during events like the World Cup demonstrate the importance of working together. Building trust, capacity, and capability in the cybersecurity field are also emphasized.

Speakers