Cybersecurity is no longer an IT issue— it has become a critical factor in a business’s survival. Vietnam is increasingly a prime target for cybercriminals, with a rising number of attacks directed at businesses, financial institutions, and government agencies. As a business leader, ignoring cybersecurity risks is no longer an option. The cost of inaction is too high, and the consequences can be devastating. 

The Current Landscape of Cybersecurity in Vietnam 

Vietnam ranks among the most cyber-attacked countries in Southeast Asia, with significant increases in ransomware, online fraud, data breaches, and insider threats. According to recent reports, financial losses from cyber incidents in Vietnam are skyrocketing, and many businesses are ill-equipped to respond effectively. 

In 2024, approximately 46.15% of agencies and businesses in Vietnam fell victim to cyberattacks, with an estimated total of over 659,000 incidents. The most common types of attacks included targeted attacks, espionage attacks, and data encryption attacks, according to the Vietnam Cybersecurity Report conducted by the National Cybersecurity Association. The report was compiled from a survey of 4,935 organizations and entities in December 2024. 

A key policy requires all public agencies to allocate at least 10% of their IT budgets to cybersecurity (2020–2025), explicitly aiming to bolster security awareness and resilience nationwide.  

 Cybersecurity Readiness of Vietnamese Businesses (2024) 

* Source: Ministry of Information and Communications report   

The Ministry of Information and Communications reported that Cyberattacks on Vietnamese systems dropped by 57.4% in the first ten months of 2024 compared to 2023. The National Cybersecurity Association (NCA) survey in late 2024 found that 75.68% of businesses conducted cybersecurity awareness training, yet 24% provided none—leaving significant vulnerabilities. Additionally, 46.15% of organizations still faced attacks in 2024, with 6.77% experiencing frequent breaches, underscoring the persistent threat landscape.  

The government launched “Information Security Knowledge and Awareness Program (2021–2025),” alongside national drills, have helped Vietnam rise from 100th in 2017 to 25th in 2020 on the Global Cybersecurity Index. Meanwhile, industries like banking and telecom, under strict regulations, prioritize security awareness through phishing simulations and fraud education. 

Large-scale data breaches affecting Vietnamese enterprises have resulted in compromised customer data, financial losses, and severe reputational damage. Additionally, the rise of remote work has expanded attack surfaces, making it easier for hackers to exploit vulnerabilities. 

Why Business Leaders Must Act Now 

Cyberattacks lead to direct financial losses, regulatory fines, legal repercussions, and business disruption. Beyond the immediate damage, companies also face long-term consequences like lost revenue and declining customer confidence. 

The Vietnamese government is tightening cybersecurity regulations, and non-compliance lead to severe penalties, including fines and restrictions on business operations. New laws require businesses to enhance security frameworks, making cybersecurity investment an urgent necessity. 

A cybersecurity breach damages more than just financials—it erodes brand trust. Customers and partners will hesitate to do business with a company that cannot secure their data. In the digital era, trust is an asset that takes years to build but only seconds to lose. 

Business leader needs to take action on today 

• Enhance your infrastructure security with a robust framework that includes endpoint protection, privileged access management, and a zero-trust architecture. 

• Employees are often the weakest link in cybersecurity—regular security awareness training is key to preventing phishing and social engineering attacks. 

• Stay ahead of cybercriminals by proactively identifying vulnerabilities before they can be exploited. 

• A well-structured incident response plan helps minimize downtime and mitigate damage in the event of an attack. 

• Partnering with industry experts keeps your company one step ahead of emerging threats. 

Conclusion 

Cyber threats are no longer distant concerns; they are an immediate and costly reality. As a business leader, your responsibility isn’t just to drive growth but to ensure the resilience of your company against digital attacks. The question is not if a cyberattack will happen but when. The only way to stay ahead is to take proactive measures. Now is the time to strengthen your defenses before it’s too late.