VEDP releases report on export opportunities for cybersecurity

A report released Wednesday by the Virginia Economic Development Partnership (VEDP) provides a road map of potential international growth for Virginia-based cybersecurity companies.

The Virginia Cyber Security Export Market Report, prepared by George Mason University as part of VEDP’s ‘Going Global’ Defense Initiative, identifies the top 10 foreign markets that offer the best opportunities for exports of cyber security goods, services and technologies.

The report also provides  assessments of the five most promising markets. They focus on strategies for market access, including government procurement procedures, trade regulations, laws, market access restrictions, tenders and business challenges.

The top 10 markets are: Saudi Arabia, United Arab Emirates,Qatar, Kuwait, South Korea, Brazil, Japan, United Kingdom, Australia and Indonesia.

Emerging markets for cybersecurity are Malaysia, South Africa, Poland and Singapore.

“Cyber security is the new wave in the defense industry, and many defense firms are expanding into this area as it is quickly becomes a top priority for many governments around the world,” Paul Grossman, VEDP vice president of international trade, said in a statement.  “Defense budgets are being increased to include cyber security as cyber attacks target state-owned energy companies in the Middle East or attempt to infiltrate the systems of U.S. agencies daily.”

The report was designed to mitigate the impact of defense spending cuts on Virginia’s economy, the nation’s leading state recipient of defense spending.

To download the report, go to  http://exportvirginia.org/resources2/publications/cyber-security/.