SG Morning Call｜Lawrence Wong to Succeed PM Lee By Nov 2024; Singapore to Table New Law in Critical Entities

Lawrence Wong to Succeed PM Lee By Nov 2024, Before Singapore’s Next Election

Prime Minister Lee Hsien Loong will hand over the leadership reins to Deputy Prime Minister Lawrence Wong before Singapore’s next general election (GE).

“There is no reason to delay the political transition,” said PM Lee at the PAP awards and convention on Sunday (Nov 5). “I have full confidence in Lawrence and his team.”

PM Lee did not give an exact date as to when the transition would take place, but said: “If all goes well, I will hand over by the PAP’s (People’s Action Party) 70th birthday next year”. The PAP was founded on Nov 21, 1954.

Singapore to Table New Law Reviewing Significant Investments in Critical Entities

Singapore is proposing a new law to scrutinise “significant investments” – from local or foreign sources – in “critical entities” not yet covered by existing legislation, with approval needed for major changes in ownership.

These requirements will apply to specified entities, with only “a handful” expected to be so designated under the law, said Trade and Industry Minister Gan Kim Yong.

Without giving specifics, he noted that some such entities may be covered by existing licensing regulations or contracting conditions, but these are inadequate in ensuring the continuity of essential services in a crisis.

Prince William Visits Singapore

Prince William, The Prince of Wales, is on a working visit to Singapore till Nov 8. He will attend the Earthshot Prize Awards Ceremony on Tuesday (Nov 7) and related events.

During his visit, he will make a courtesy call on President Tharman Shanmugaratnam and meet Prime Minister Lee Hsien Loong at the Istana.