Victoria has hailed the development of a national cyber security strategy designed to strengthen our cyber defences and contribute to research and development.

The global cyber security industry, worth A$90 billion a year, is crucial to safeguarding Australia's rapidly growing digital economy.

Victoria is well-placed to work with the Commonwealth having set up the Oceania Cyber Security Centre (OCSC) in Melbourne.

The centre will be housed at the Good Shed, which will also be home to the national cyber security centre for Data61, the digital research arm of the CSIRO.

It will also be home to the first international office for Oxford University's world leading Global Cyber Security Capacity Centre (GCSCC).

The OCSC will bring together eight Victorian universities, the Melbourne-based Defence Science Institute and major private sector partners.

It will focus on improving industry-university collaboration and advancing expertise in the sector, targeting utility asset protection, transport grids and Victoria's health network.

Cyber security investments also follow moves to Victoria by a growing list of tech companies including the country's National Broadband Network (NBN), which has announced the location of their national Cyber Security Operations Centre in Victoria with 700 new jobs over the next five years.

Victoria will also be the first Australian government to partner with the Australia Israel Chamber of Commerce to lead a data and cyber security trade mission to Israel, attending the 4th International Conference on Homeland Security & Cyber in November this year.