Singapore is to witness a leadership shift from May 15, 2024, when the current Prime Minister will step down.
Who is the current Prime Minister?
Lee Hsien Loong, 72, will step down on May 15 after two decades. He was first elected in 1984 and assumed office as prime minister in 2004, becoming one of the world’s most enduring political figures. Lee has been serving as the 3rd Prime Minister of Singapore and Secretary-General of the ruling People’s Action Party since 2004.
Under his reign, Singapore underwent a remarkable economic transformation. Its gross domestic product per capita soared to nearly $92,000, ranking among the highest globally. Additionally, Singapore also strengthened itself as a hub for foreign investment amid escalating regional competition.
Who will be the new Prime Minister?
Lawrence Wong, the deputy prime minister and finance minister of Singapore, will succeed as the next Prime Minister of Singapore. He will be sworn on May 15,2024.
This succession will end a two-decade run and usher in a new era. Wong has been a potential candidate for the position since 2002 and was designated as the PM-in-waiting in April 2022, owing to the disruption in the leadership transition process. However, his succession was planned earlier in 2020, but the pandemic disrupted the plan.
“I ask all Singaporeans to give Lawrence and his team your full support and work with them to create a brighter future for Singapore,” Lee said in a Facebook post.
The Prime Minister, while announcing his retirement, said that leadership transition is a significant moment for any country.
In furtherance, the Prime Minister-to-be said in an Instagram video post, “Every ounce of my energy shall be devoted to the service of our country and our people. Together, we can build a future that shines brightly for all Singaporeans.”
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Wong is said to have unanimous backing from the ruling party’s lawmakers. Lawrence and team have worked hard to gain the people’s trust, notably during the pandemic.”
Before Wong joined politics in 2011, Wong was a civil servant, including a stint as Lee’s principal private secretary. It is said that this once-in-a-generation succession will continue in the future.
The leadership succession would coincide with the vote that’s due by 2025. Lee added that he will be at the “new PM’s disposal.”
