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    HomeWorld News"Singapore PM Lee's Two-Decade Tenure Ends, Lawrence Wong to Take Over"

    “Singapore PM Lee’s Two-Decade Tenure Ends, Lawrence Wong to Take Over”

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    Singapore PM Lee Set to Step Down, Lawrence Wong to Assume Premiership

    After two decades of leadership, Singapore Prime Minister Lee Hsien Loong, 72, will relinquish his position on May 15 as part of a meticulously planned succession. This move ushers in a new era with his deputy Lawrence Wong, 51, poised to become the city-state’s fourth premier on the same day.

    Deputy Prime Minister Wong, who also serves as the finance minister, has garnered unanimous support from ruling party lawmakers, according to a statement from the Prime Minister’s Office. Prime Minister Lee expressed confidence in Wong’s leadership, urging all Singaporeans to extend their full support to Wong and his team in creating a brighter future for the nation.

    Under Lee’s leadership, Singapore experienced significant economic growth, with its gross domestic product per capita reaching nearly $92,000, solidifying its status as one of the world’s wealthiest nations. The island nation also strengthened its appeal as a preferred destination for foreign investors in a highly competitive region.

    Wong, in a video message posted on Instagram, pledged his unwavering dedication to serving the country and its people, emphasizing the collective effort needed to build a prosperous future for all Singaporeans.

    The succession plan, years in the making, faced delays due to the Covid-19 pandemic and the unexpected decision by then-designated successor Heng Swee Keat to step aside in 2021. Lee, who was first elected in 1984 and became prime minister in 2004, navigated these challenges, ensuring a smooth transition of leadership.

    The ruling People’s Action Party, despite its strong electoral performance, faced challenges in the 2020 election as the opposition advocated for measures to address income disparities and prioritize local employment.

    Wong assumes leadership amidst domestic concerns over living costs and workforce competitiveness, compounded by recent scandals affecting the ruling party’s reputation for clean governance. However, the transition is anticipated to maintain stability and continuity, even as Singapore grapples with global uncertainties such as geopolitical tensions and supply chain disruptions.

    Lee’s continued involvement in government affairs will provide guidance during the leadership transition, ensuring a seamless handover. Experts emphasize the need for a swift transition amid evolving global challenges, highlighting Singapore’s resilient approach to governance and strategic leadership continuity.

    Sources By Agencies

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