Business expert predicts great future for Taiwan's cybersecurity sector

President Tsai identified cybersecurity as major target for development: Chairman of Wealth Magazine

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File photo of Hsieh Chin-ho 

File photo of Hsieh Chin-ho  (CNA photo)

TAIPEI (Taiwan News) — Once the Wuhan coronavirus (COVID-19) pandemic slows down, investors should shift their attention from Taiwan's biotech industry to the cybersecurity sector, Wealth Magazine chairman Hsieh Chin-ho (謝金河) said Friday (June 5).

Producers of masks, vaccines, and coronavirus tests have been all the rage over the past few months, but last month, the Presidential Office and Taiwan’s two main oil companies were hacked, propelling cybersecurity to the forefront of public attention, cable station SETN quoted Hsieh as saying.

The popular investment expert also noted that President Tsai Ing-wen (蔡英文) in her May 20 inaugural speech had named cybersecurity, to be integrated with 5G and digital transformation, as one of six strategic sectors.

During her first term, she promoted wind energy as a key sector, but cybersecurity could become the next item to hold public interest for at least a decade, according to Hsieh.

While Taiwan is still behind, it does have the necessary talent, software, and hardware as well as a dynamic IT industry. Therefore, with assistance from the government, the cybersecurity sector should be able to register major advances, the publisher said.