Lawrence Wong sworn in as Singapore's new Prime Minister

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President Tharman Shanmugaratnam, 67, swore in Wong in what local media described as a low-key leadership change. Wong cited the need for continuity, stability and avoiding disruptions as reasons for not making major changes at the ministerial (cabinet) level. A report by Channel News Asia said all other ministers retained their portfolios during the leadership transition from Lee Hsien Loong's government to Wong's government, which also confirms Wong's continuity in decision-making.

Economist Lawrence Wong was sworn in as Singapore's fourth prime minister on Wednesday in a planned political transition for the island state. The 51 replaced Lee Hsien Loong, 72, who stepped down after two decades; Both belong to the ruling People's Action Party (PAP) which has been driving Singapore's economic progress for more than five decades. Was Deputy Prime Minister, will lead a government of fourth generation PAP politicians as Prime Minister and Finance Minister.

President Tharman Shanmugaratnam, 67, swore in Wong in what local media described as a low-key leadership change. Wong cited the need for continuity, stability and avoiding disruptions as reasons for not making major changes at the ministerial (cabinet) level. A report by Channel News Asia said all other ministers retained their portfolios during the leadership transition from Lee Hsien Loong's government to Wong's government, which also confirms Wong's continuity in decision-making.

Given Singapore's status as an Asian financial center and a trading hub with global networks generating investment to Asia, including India, the Wong-led government is expected to continue pursuing pro-business policies. Lee will remain in the cabinet as a senior minister as has been the case with the city state's first two prime ministers – Lee Kuan Yew and Goh Chok Tong.

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