SINGAPORE: Prime Minister Lee Hsien Loong gave his farewell speech at a May Day rally on Wednesday, May 1. As Deputy Prime Minister Lawrence Wong will assume the leadership role on May 15, Mr. Lee’s speech was his final significant speech as prime minister. In his extensive speech, Mr. Lee outlined Singapore’s current socioeconomic situation and the new challenges the island will face.
With the impending leadership change, Singapore is at a critical turning point, and Mr. Lee’s speech helped to connect the dots between the nation’s past achievements and its prospects for the future.
Mr. Lee will relinquish his position as leader, placing Singapore on a strong social and economic foundation. In the last 20 years, Singapore has not only survived major calamities like the COVID-19 pandemic and the global financial crisis of 2007 but has also recovered from each one to position its economy for the future.
The creation and growth of numerous important industries, such as biotech and pharmaceuticals, information and digital technology, and the financial services sector, were among the noteworthy projects that Mr. Lee spearheaded.
Even though Mr Lee wasn’t the prime minister then, he started some of these initiatives while serving as deputy prime minister and chairing the 2001 Economic Review Committee. These initiatives, which he oversaw, contributed to the transformation of Singapore’s economy over the following two decades.
Also Read:
On the first bus, a special relationship develops between the driver and the passenger.
Fed Rates on hold: What Impact will this Have on Borrowers and Savers in Singapore
