Taiwanese SMEs Excel in Cybersecurity at APEC Meeting

Taiwanese small and medium-sized enterprises (SMEs) achieved notable recognition for their cybersecurity efforts during the recent APEC Business Advisory Council meeting held in Gyeongju, South Korea. Despite this commendation, the smallest enterprises in Taiwan exhibited challenges, as highlighted by trade representative Jamie Lin on March 6, 2024.

At the meeting, Taiwanese SMEs ranked sixth in cybersecurity among the 21 APEC member economies. They were outperformed by Chile, the United States, Canada, Papua New Guinea, and Brunei. In contrast, SMEs from Russia and China received the lowest safety ratings in the study conducted.

The research involved an examination of 2,000 SMEs, based on lists submitted by government officials. Lin reported that 81 percent of the firms studied scored a “B-minus” or lower. He pointed out that the data might not fully represent the cybersecurity landscape, as the lists were voluntarily provided by APEC governments.

Understanding the Cybersecurity Landscape

This study serves as an indicator of current trends in cybersecurity, rather than a definitive ranking, according to Lin. He acknowledged that while Taiwan’s performance in the research was commendable, there exists a significant security gap between the most and least protected firms.

Lin emphasized the need for the Taiwanese government to implement policies that equip underperforming SMEs with essential cybersecurity tools. These tools would help them secure reliable website hosts and email servers, thereby enhancing their overall security posture.

During discussions with business leaders, Lin noted that representatives from Australia and Vietnam raised concerns about the use of artificial intelligence in cyberattacks, a growing threat in the digital landscape. This highlights the critical importance of acknowledging algorithmic technology’s potential risks, which should not be underestimated.

As the global digital economy continues to evolve, the emphasis on cybersecurity for SMEs becomes increasingly vital. The APEC findings not only reveal the current standing of Taiwanese firms but also underline the necessity for ongoing improvements and investments in cybersecurity measures across the region.