TOKYO, March 16 (Bernama-Kyodo) -- The Japanese government will begin encouraging the growth of the domestic cybersecurity industry to reduce reliance on services provided by foreign companies, Kyodo News Agency reported.
As part of a plan set to launch in the fiscal year beginning in April, the government aims to more than triple annual domestic cybersecurity sales to over 3 trillion yen ($20.2 billion) within 10 years, up from the current 900 billion yen, the Industry Ministry announced in early March.
Japanese consumers primarily choose antivirus software and other cybersecurity services from international companies over domestic options due to their track records and pricing.
However, the Ministry of Economy, Trade and Industry emphasises that it is crucial to develop domestic capabilities to assess threats and create products that can mitigate cyberattack damage targeting the country.
"There is insufficient investment in domestic products because they are unprofitable, creating a vicious cycle where they struggle to compete," a ministry official said.
Under the plan, the government aims to strengthen the domestic cybersecurity industry by contracting local startups to provide services and products for government offices and organising contests to promote research and development.
-- BERNAMA-KYODO
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