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PM Lee names new trade, industry minister in cabinet reshuffle

Bloomberg Published on Tue, Apr 24, 2018 / 6:17 PM GMT+8

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SINGAPORE (Apr 24): Singapore’s Prime Minister Lee Hsien Loong named a new trade and industry minister in a cabinet reshuffle, further preparing his party for a leadership transition sometime in the next few years.

Chan Chun Sing will be Minister for Trade and Industry from May 1, taking on duties currently shared by Lim Hng Kiang, who will step down, and S Iswaran, who will become Minister in Charge of Trade Relations. Chan, who turns 49 this year, will relinquish his position as Minister in the Prime Minister’s Office.

Chan will play a key role in an economy that is forecast to see solid growth in 2018 after an export boom last year gave the country its fastest expansion since 2014. Inflation remains within the government’s forecast range while its labour market is strengthening, but officials face longer-term challenges such as rapid aging and adjusting to the digital economy.