Deputy Prime Minister Lawrence Wong will become Singapore‘s Prime Minister in May, succeeding Lee Hsien Loong after 20 years. Wong faces economic challenges but Singapore remains attractive for foreign investors.
Leadership Transition in Singapore
Singapore’s Deputy Prime Minister Lawrence Wong is set to become the Prime Minister in May, succeeding Lee Hsien Loong after his 20-year tenure. This historic leadership change will mark only the fourth time such an event has occurred in Singapore’s history.
Facing Economic Challenges
With a diverse background in various government portfolios, including finance and development, Wong steps into his new role at a challenging time for Singapore. The country’s vulnerability to external shocks, coupled with domestic issues such as rising living costs and housing prices, pose significant challenges for the incoming Prime Minister.
