AIRLINK 197.90 Decreased By ▼ -0.07 (-0.04%)
BOP 10.00 Decreased By ▼ -0.04 (-0.4%)
CNERGY 7.27 Decreased By ▼ -0.02 (-0.27%)
FCCL 36.55 Increased By ▲ 0.55 (1.53%)
FFL 16.85 Decreased By ▼ -0.06 (-0.35%)
FLYNG 25.58 Increased By ▲ 0.54 (2.16%)
HUBC 135.60 Increased By ▲ 1.57 (1.17%)
HUMNL 14.02 Decreased By ▼ -0.12 (-0.85%)
KEL 4.80 Increased By ▲ 0.02 (0.42%)
KOSM 6.94 No Change ▼ 0.00 (0%)
MLCF 45.48 Increased By ▲ 0.50 (1.11%)
OGDC 217.65 Decreased By ▼ -0.58 (-0.27%)
PACE 6.97 Increased By ▲ 0.03 (0.43%)
PAEL 41.19 Decreased By ▼ -0.23 (-0.56%)
PIAHCLA 16.99 Increased By ▲ 0.13 (0.77%)
PIBTL 8.46 No Change ▼ 0.00 (0%)
POWER 9.46 Increased By ▲ 0.07 (0.75%)
PPL 184.25 Decreased By ▼ -1.68 (-0.9%)
PRL 41.16 Decreased By ▼ -0.11 (-0.27%)
PTC 24.90 Increased By ▲ 0.13 (0.52%)
SEARL 103.50 Decreased By ▼ -1.15 (-1.1%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 40.75 Decreased By ▼ -0.16 (-0.39%)
SYM 17.88 Decreased By ▼ -0.17 (-0.94%)
TELE 8.91 No Change ▼ 0.00 (0%)
TPLP 12.80 Decreased By ▼ -0.04 (-0.31%)
TRG 66.99 Increased By ▲ 0.39 (0.59%)
WAVESAPP 11.36 Increased By ▲ 0.06 (0.53%)
WTL 1.79 Increased By ▲ 0.01 (0.56%)
YOUW 3.99 Decreased By ▼ -0.01 (-0.25%)
BR100 12,105 Decreased By -4.4 (-0.04%)
BR30 36,565 Decreased By -32.6 (-0.09%)
KSE100 115,176 Increased By 133.7 (0.12%)
KSE30 36,199 Decreased By -1 (-0%)

SINGAPORE: Singapore's Prime Minister Lee Hsien Loong said on Saturday that Finance Minister Lawrence Wong would succeed him as the city-state's leader.

Wong was chosen as leader of the ruling People's Action Party's (PAP) so-called fourth generation team, according to an announcement on Thursday, paving the way for him to become prime minister.

"The plan is for Lawrence to succeed me as PM, either before or after (if the PAP wins) the next General Election. It is due in 2025 and will surely be a tough fight," Lee said in a social media post on Saturday.

Lee, whose father Lee Kwan Yew was the island nation's independence leader, has been prime minister since 2004.

Stability has long been one of wealthy Singapore's major strengths, making it a haven for investors and businesses in a region where political upheaval is not uncommon.

Wong, 49, who helped steer the Southeast Asian city-state through the COVID-19 pandemic as co-chair of the government's taskforce, had been tipped by analysts as a potential successor to Lee, 70.

Leadership succession in the country, governed by the PAP since its 1965 independence, is normally a carefully planned affair.

But an unexpected decision last year by Deputy Prime Minister Heng Swee Keat to step aside as Lee's designated successor disrupted leadership planning.

"I am already 70 and I am looking forward to handing over to Lawrence once he is ready," Lee told a news conference. He said they would later decide whether he or Wong would lead the party into the next general election.

Singapore to lift virus travel curbs in ‘milestone’

Emerging from travel curbs and strict regulations that made it a pandemic success story, Singapore is vying to retain and build on its status as a hub of international commerce.

"The pandemic is not over, we have to get through it," said Wong when asked about major issues facing the country.

"There are considerable economic challenges to tackle arising from the war in Ukraine, not least the threat of higher and more persistent inflation and weaker growth."

He said the country would also need to look over the horizon to position itself in a more "complex, volatile and unpredictable world".

Comments

Comments are closed.