Singapore Finance Minister named to key party role in hunt for PM successor


SINGAPORE (Reuters) – Singapore’s finance minister, Lawrence Wong, has been chosen as chief of the ruling People’s Action Party’s fourth era (4G) group, paving the best way for him to doubtlessly develop into the city-state’s subsequent prime minister.

“This determination is an important one for Singapore. It will make sure the continuity and stability of management which can be the hallmarks of our system,” Prime Minister Lee Hsien Loong stated on Thursday in a social media put up. He added he would additionally make changes to the cupboard.

Stability has lengthy been considered one of rich Singapore’s main strengths, making it a haven for buyers and companies in a area the place political upheaval shouldn’t be unusual.

Leadership succession in the Southeast Asian city-state – which has been ruled by the People’s Action Party (PAP) since 1965 – is generally a fastidiously deliberate affair.

But an sudden determination final yr by Deputy Prime Minister Heng Swee Keat to step apart as designated successor to Lee Hsien Loong disrupted management planning.

4G refers to the ruling party’s so-called fourth era group of youthful leaders. Wong has been touted by analysts to be one of many prime candidates for future premier.

(Reporting by Aradhana Aravindan; Editing by Kanupriya Kapoor)

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