- The Straits Times
Finance Minister Heng Swee Keat is set to be promoted to Deputy Prime Minister from May 1, Singapore’s Prime Minister announced on Tuesday (April 23).
The 57-year-old will also remain as Finance Minister and continue chairing the Future Economy Council and National Research Foundation.
In a Facebook post, PM Lee added that Heng will act as Prime Minister in his absence.
As a result of the new appointment, current DPMs Teo Chee Hean and Tharman Shanmugaratnam relinquish their appointments. They will be appointed instead as Senior Ministers in Cabinet, PM Lee said.
Teo, who has served as DPM alongside Wong Kan Seng and then Tharman since 2009, will also continue as Coordinating Minister for National Security.
DPM Tharman, who replaced Wong in 2011, will be re-designated as Coordinating Minister for Social Policies, but will continue to advise the Prime Minister on economic policies, PM Lee said.
At the same time, Tharman will take on the role of deputy chairman at sovereign wealth fund GIC.
“The next generation leadership is taking shape, and progressively taking over from me and my older colleagues. The team is working closely together, building up public trust and confidence in their leadership,” PM Lee wrote in his post.
“I ask all Singaporeans to support them, and work together to secure a bright future for Singapore,” he added.
Here is the new Cabinet structure being implemented from May 1: