Singapore Prime Minister Lee Hsien Loong will be stepping down on May 15 after serving for two decades, making way for his deputy Lawrence Wong to assume the role. Wong, who is also the finance minister, will become Singapore's fourth prime minister since the country gained independence in 1965. The transition of power is set to take place on May 15 at the Istana, with Wong receiving the support of ruling party lawmakers.
Under Lee's leadership, Singapore has evolved into a prominent global financial hub, attracting numerous family offices and multinational companies to establish their presence in the city-state. The outgoing prime minister expressed his confidence in Wong and urged Singaporeans to extend their full support to the incoming leadership.
Wong, in his statement, emphasized his commitment to serving the nation with dedication and humility, aiming to collaborate with the citizens to build a prosperous future for Singapore. He highlighted the importance of continuous innovation and adaptation to maintain Singapore's competitiveness in the evolving global landscape.
The People's Action Party, led by Lee, has been preparing for the leadership transition, with the Covid-19 pandemic causing some disruptions to the process. Lee, who has been in office since 2004, succeeded his father, Lee Kuan Yew, who served as prime minister from 1959 to 1990.
Wong has outlined Singapore's strategy to stay relevant in the changing global trade environment, emphasizing the need for constant reinvention and vigilance to safeguard the nation's interests. His vision for Singapore's future aligns with the goal of fostering a bright and inclusive society for all Singaporeans.
The upcoming leadership transition marks a significant moment for Singapore, with Wong poised to lead the nation into a new era of growth and development. As the city-state navigates through various challenges, the continuity of strong leadership and strategic vision will be crucial in shaping Singapore's trajectory in the years to come.
