Speech by Minister S Iswaran at the launch of Starhub's Cyber Security Centre of Excellence

​SPEECH BY MR S ISWARAN, MINISTER FOR TRADE AND INDUSTRY (INDUSTRY) AT THE LAUNCH OF STARHUB’S CYBER SECURITY CENTRE OF EXCELLENCE ON WEDNESDAY, 18 MAY 2016, 9:00AM, SHANGRI-LA HOTEL

Mr Tan Tong Hai, CEO, StarHub  

Distinguished guests,

Ladies and Gentlemen,

Good morning.  

Introduction

1. It gives me great pleasure to join you today at the launch of StarHub’s Cyber Security Centre of Excellence.  The Centre will collaborate with leading cyber security companies to create new solutions for emerging challenges, as well as partner with our Institutes of Higher Learning to develop cyber security talent in Singapore.

Cyber-attacks have become a global threat to governments and businesses.

2. In our increasingly digital and interconnected world, cyber-attacks have become a global threat for governments and businesses.  According to Fortinet, a global leader in network security, half a million cyber-attacks happen over the Internet every minute.  Recent cyber-attacks on businesses, such as JPMorgan and health insurer Anthem, as well as on critical public infrastructure such as a Ukrainian power plant, have raised concerns that these attacks are increasing in volume, frequency and complexity.

3. As governments and businesses look to defend themselves against cyber-attacks, global spending on cyber security is expected to grow from US$75 billion in 2015 to US$170 billion by 2020, at a compound annual growth rate (CAGR) of 9.8% [1].

Singapore is well-positioned to capture opportunities from the growing cyber security industry.

4. As Singapore moves towards being a Smart Nation, cyber security will play a key role in securing our national infrastructure, as well as the data assets of our businesses and people.

5. Singapore is also well positioned to capture new opportunities from the growing cyber security industry.  Today, Singapore is home to more than 30 leading cyber security solution providers.  End users of cyber security solutions, including companies in the manufacturing and finance sectors, have also established regional cyber security teams in Singapore.  

Cyber security is a growth sector for Singapore.  We are committed to grow this sector by fostering partnerships, catalysing innovation and developing the talent pool.

6. Indeed, cyber security is one of the growth sectors that the Committee on the Future Economy (CFE) has been actively exploring.  Our vision is for Singapore to be the cyber security hub for the region, with leadership positions in specific verticals where we have existing strengths, such as the manufacturing and finance sectors.  The government is committed to grow this sector by fostering partnerships, catalysing innovation and developing the talent pool.

Partnerships

7. Partnerships between cyber security companies and end users play an important role in growing a vibrant cyber security ecosystem.  For instance, I was encouraged to note that StarHub is partnering leading cyber security companies, such as Fortinet, Blue Coat, Wedge Networks and Cyberbit, to co-create new cyber security solutions for industrial control systems and the Cloud.

8. Government agencies will continue to facilitate such collaborations between companies to plug capability gaps, create new cyber security solutions, and accelerate the time to market for these solutions.

Innovation

9. To support cyber security research and innovation, the S$130 million National Cyber Security R&D Programme was launched in 2015.  As part of this programme, the National Cyber Security R&D Laboratory will be established at the National University of Singapore (NUS) by the end of the year.  This laboratory will provide shared research infrastructure and datasets for experimentation and collaboration with the industry.

Talent Development

10. As this global industry grows, global demand for cyber security talent is expected to outstrip supply by a third in 2020[2].  We will continue to invest in talent development and equip our people with the relevant skillsets to take on the new job opportunities in cyber security.

11. For example, the Cyber Security Associates and Technologists Programme (CSAT), established by the Cyber Security Agency (CSA) and the Infocomm Development Authority of Singapore (IDA) in October 2015, trains fresh and mid-career Information and Communications Technology (ICT) professionals for emerging job opportunities in cyber security.  The National Research Foundation (NRF), Prime Minister’s Office and IDA also introduced the National Cybersecurity Postgraduate Scholarship (NCPS) in 2014, for graduates and working professionals to pursue relevant Masters and/or Doctoral degrees locally or overseas.

12. I am pleased to note that this Centre of Excellence will further contribute towards our talent development efforts.  The Centre will partner with Nanyang Polytechnic, Republic Polytechnic, Temasek Polytechnic and the Singapore University of Technology and Design (SUTD) to train over 300 cyber security specialists over the next 5 years.  This involves working with these Institutes of Higher Learning to enhance their cyber security curriculum, as well as providing hands-on training and internships that prepare their students to meet the needs of the industry.

Conclusion

13. In closing, I am confident that the Cyber Security Centre of Excellence will better position StarHub and Singapore for the growth opportunities in cyber security in our increasingly digital and interconnected world.

14. My heartiest congratulations to the StarHub team on the launch of this Centre of Excellence, and I wish you every success.

15. Thank you.

[1]  Source: Market research firm, MarketsandMarkets.

[2] Source: Financial Times, 18 November 2015.

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