InfoWatch Group has joined strategy session ‘Business Opportunities in Southeast Asia’ chaired by Artem Shchadrin, Director of Strategic Development and Innovations Department at the Russian Ministry of Economic Development, and attended by heads of Ministry’s relevant departments, the Russian Export Center, Skolkovo Foundation, Russian Venture Company (RVC), as well as representatives of businesses and business councils at the Chamber of Commerce and Industry of the Russian Federation. The session attendees discussed the market specifics in Southeast Asia and shared their relevant experience.
Vladimir Shutemov, Chief International Business Development Officer at InfoWatch Group and CEO of InfoWatch Kuala Lumpur, spoke about enterprise cybersecurity market trends and opportunities Southeast Asia offers to Russian vendors of high-tech products and services, noting that Malaysia and Indonesia are the most promising countries for the regional expansion of Russian cybersecurity solutions.
“In 2014, Malaysian government adopted a personal data protection act (PDPA) that obliged local businesses to install relevant technical solutions,” said Vladimir Shutemov. “As a result, many enterprises implemented U.S. and European data protection systems. However, several notorious and large-scale data leaks forced local businesses to reconsider their information protection approach. Instead of purchasing cybersecurity tools just to comply with the law, enterprises are now interested in partnering with providers offering a full range of services, from consulting and customer data classification to cybersecurity system implementation and policy setup, including comprehensive support and personnel training.”
Vladimir Shutemov also added that Indonesia would adopt a similar law in 2019, with local companies already taking an interest in globally competitive cybersecurity technology of Russian origin.
It should be noted that InfoWatch Group opened its full-service representative office in Kuala Lumpur (Malaysia) in 2017 to develop direct sales, expand partner and customer base, provide technical support for current InfoWatch customers, and conduct InfoWatch product trainings for customers and partners in Southeast Asia.
