Information security booming in Russia
Information security is one of the most popular ICT topics in Russia. Local companies have an increasing demand for information security solutions because of cyber threats and new data localization measures.
According to new Russian legislation, all personal information about Russian citizens must be kept in datacenters that are located within the territory of the Russian Federation. Additionally, another lately approved piece of legislation will pile up new requirements on telecommunications operators in the near future; they must store all the metadata for phone calls and text messages from 6 months to 3 years and to provide access for Russian authorities to the stored content.
As of now, cyber security in Russian business sector is also a very concrete topic. Companies with specializations ranging between banking and construction try to protect themselves in various different ways. Thus, there are opportunities for Finnish companies firstly in the field of information security. Secondly, there is a demand for providers of equipment and technologies for datacenters.
In case of information security providers, Russian companies are especially interested in new and unique technologies for the likes of security operations centers (SOC) and intrusion detection systems (IDS). At the moment, the most relevant risks for companies operating in Russia are illegal entry and denial-of-service attacks (DoS attack).
Seizing the opportunity
In the Russian market, one of the main challenges is to conduct business in accordance with the local legislation, which changes time after time. Furthermore, certification processes of ICT products and technologies are relatively complex and require time.
As Russian companies may be reluctant to implement new software or technologies straight away, it definitely will not hurt the potential Finnish companies, if they can prove their previous successful experiences in the above mentioned fields. Meanwhile, a strong track-record could serve as a lure to gain additional investments from Russian investors. Among them, the ICT sector is after all found to be an attractive investment target.
The annual Infosecurity Russia expo provides a potential way to get an inside look of the Russian information security market.
Moreover, organizing specific business events for Finnish companies to meet potential customers in Russia as well as providing their contacts is a possibility.
Interested in this opportunity, please contact:
Evgeniy Korobkin, International projects director
Finnish-Russian Chamber of commerce – FRCC