SINGAPORE (ANN/THE STRAITS TIMES) – Brunei’s efforts to diversify its economy beyond oil and gas are gaining traction, with a growing number of Singapore companies eyeing investment opportunities in the Sultanate across key non-energy sectors.
One example is cybersecurity company CyberSafe, which set up a Security Operations Control Room in Brunei in October 2024. The facility became operational in just five months—three months ahead of schedule—due in part to lower setup costs, which amounted to just 60 per cent of a similar operation in Singapore.
CyberSafe’s Chief Executive Officer Dave Gurbani praised the collaboration between the Singaporean and Bruneian teams, noting their smooth integration due to shared linguistic, educational and cultural similarities. “Skills-wise, Bruneian talent has proven highly competent, adaptable and reliable. We’ve had no major operational challenges so far,” he said.
The company, which currently employs 10 staff in Brunei, plans to increase its headcount by another 20 in 2025 to support expanding operations, particularly in Singapore’s healthcare sector.
According to the Brunei Economic Development Board (BEDB), close to 10 Singapore-based investors are now in the planning stages for ventures in Brunei, with rising interest in primary food production, data centres, ecotourism and special economic zones.
Singapore firms invested BND68.8 million in Brunei in 2022, ranking among the country’s top foreign investors. While there was a recorded outflow of BND27.6 million in 2024, BEDB attributed this to routine capital movements such as loan repayments and restructuring at the company level.
May 27, 2025
