Singapore's Prime Minister Lee Hsien Loong has announced his intention to hand over the prime ministership to Deputy Prime Minister Lawrence Wong by next autumn, marking the first time in 20 years that Singapore, one of Asia's largest economies, has changed its leader.
Prime Minister Lee Hsien Loong spoke at the convention of the ruling People's Action Party, which continues to rule in one party on the 5th.
"I intend to hand over the top position to Vice Prime Minister Wong before the next general election, and if all goes well, I would like to hand it over before the party's 70th anniversary," he said, expressing his intention to step down as the head of the party and prime minister by the party's anniversary in November next year and hand it over to Deputy Prime Minister Lawrence Wong.
The eldest son of Singapore's first prime minister, Lee Kuan Yew, Lee became the third prime minister in 2004 and has been responsible for running the government of one of Asia's largest economies.
Prime Minister Lee is now 3 years old, and although it was decided to transfer power to Deputy Prime Minister Wong, he had not revealed the timing of the change until now, but it will be the first time in 71 years that the leader will be replaced.
Deputy Prime Minister Wong, who also serves as finance minister, is 20 years old, and there will be a generational change of leadership in Singapore, which has developed as a financial center by attracting investment from all over the world, and the future of the administration is attracting attention.