Singapore’s Minister for Trade and Industry, Gan Kim Yong, has been announced as the new Deputy Prime Minister of the city-state. He will succeed Lawrence Wong.
Wong, 51, will be sworn in as the country’s fourth prime minister on May 15.
Gan will keep his post as the Trade and Industry Minister. Additionally, he will replace the PM-elect as the Chairman of the Monetary Authority of Singapore (MAS). Wong served as Chairman of MAS since 8 July 2023. “Mr Wong will relinquish his positions as Chairman and member of the MAS Board from 15 May 2024,” an official news release read.
Gan will also assume responsibility for the Strategy Group within the Prime Minister’s Office.
Gan will be appointed Chairman of the MAS Board of Directors for the period 15 May 2024 to 31 May 2026, the release stated.
The 65-year-old lawmaker has been serving as Trade and Industry Minister since 2021. Prior to that, Gan was the Minister for Health for a decade, from 2011.
He had co-chaired the Multi-Ministry Taskforce during the Covid-19 pandemic with Wong.