Potential candidates: (Clockwise from top left) Chan, Ong, Wong and Lee. The Straits Times/ANN
THE city-state’s typically staid politics has been unsettled by an announcement from the chosen successor for prime minister that he is taking himself out of the running, renewing questions over the republic’s leadership planning.
Stability has long been one of wealthy Singapore’s greatest strengths, making it a haven for investors and businesses in a region where political upheaval is not uncommon.
Finance Minister Heng Swee Keat, whose promotion to deputy prime minister in 2019 put him first in line for the top job, said on Thursday he wanted to make way for someone younger because the Covid-19 pandemic meant he would be too old to take over by the time the crisis had settled.
Eyes on next generation as Singapore succession is thrown into question
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Eyes on next generation as Singapore succession is thrown into question
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Political observers say it s now not clear who would become the Asian financial hub s next prime minister.
He said he turns 60 this year, and cited his age as an obstacle in steering the country in a post-pandemic world.
Heng will relinquish his role as finance minister at the next cabinet reshuffle, which local media said is expected in two weeks time. Still, he will remain as deputy prime minister and coordinating minister for economic policies. It does throw a spanner in the works in terms of Singapore s very carefully laid out succession plans, but I don t see that as a body blow to Singapore s political renewal, Eugene Tan, a law professor at Singapore Management University and a political observer, told CNBC s Street Signs Asia on Friday.