Effective cybersecurity key to economic progress

Constant cyber threats situation both domestically and internationally has led foreign investors to seek investment opportunities in markets with robust cybersecurity measures to ensure the stability and safety of their investments, Pawee said.

The government must thus establish effective policy strategies to strengthen and protect against potential attacks that could hinder economic progress, he added.

Given the increasing importance of cybersecurity, local and foreign public/private organisations in various sectors are proposing policy recommendations on establishing effective cybersecurity legislation. The following five recommendations are part of the concerted effort to enhance Thailand's cybersecurity and build confidence among investors while promoting the country's continuous economic growth in the long term:

1. Enhance cybersecurity through effective policy frameworks and legislation

Thailand's cybersecurity policy needs continuous development and reinforcement to cope with new cyber threats. An efficient policy that aligns with international standards and assesses risks will increase confidence among international partners, investors, and tourists.

The government should establish comprehensive cybersecurity legislation and ensure the presence of an efficient system for monitoring and balancing powers to prevent abuses of authority.

2. Strengthen the cybersecurity capabilities of the public sector through appropriate tools and frameworks

To enhance the cybersecurity mechanism, government agencies can adopt and adapt the best practices from international standards, such as the NIST Cybersecurity Framework, in order to avoid past mistakes, improve operational efficiency, establish global standards, and facilitate collaboration with other countries.

3. Enhance cybersecurity through collaboration between the government, private sector, and international partners

Opportunities must be provided for trusted technology service providers with appropriate technologies to participate in the Thai market to meet the increasing demand for cybersecurity. Additionally, cooperation between government agencies and ministries and collaboration between countries are both crucial to ensure coherence in regulations and decision-making authorities.

4. Invest in developing a skilled workforce to increase digital expertise and address cybersecurity challenges

Developing digital skills and cybersecurity knowledge among the workforce in the country is a key factor in achieving the set goals. The government should provide training programmes and skill development initiatives for employees in government agencies and other relevant organizations involved in information infrastructure development. Collaboration with external service providers and knowledge sharing among relevant agencies are essential for fostering digital skills and increasing cybersecurity awareness.

5. Allocate an adequate budget to enhance the efficiency of Thailand's cybersecurity infrastructure

The Thai government should allocate funding for important initiatives, such as expanding the market for a skilled cybersecurity workforce, enhancing capabilities in data science and internal government filtering systems, and establishing agencies responsible for overseeing and addressing cyber-attacks specifically, Pawee said.

The government should also promote investments in cybersecurity. The government may also need to review the procurement policies of the public sector and promote greater flexibility within various agencies. Clear guidelines should also be established to ensure the enforcement of laws for IT service providers is consistent and continuous, Pawee added.

Thailand has the potential to attract foreign investments and the capabilities to boost competitiveness on par with international standards. Adopting best practices encompassing technology, personnel, and organisational culture at various levels will be key to driving a modern and effective cybersecurity strategy, Pawee concluded.