Singapore will soon see a new primer, with current prime minister Lee Hsien Loong just announcing his intentions to handover his premiership in a month’s time.
Although politics and economics are inextricably linked, and any changes in the former is bound to have an effect on the latter, Singapore’s style of leadership renewal –exemplified by a simple, uneventful, online announcement without fanfare – potentially signals the commitment of the ruling party to ensure stability and continuity in the country’s governance and its economy.
Sure, foreign market-watchers may have some anxiety about what is to come, but if the governing party continues its electoral successes – having governed since 1959 — we are not likely to see major policy changes that would have significant impact on the Singaporean economy.
Singapore is likely to continue to remain an open economy, open to foreign trade and investments, embracing new opportunities amid this fourth industrial revolution, and continue its commitment on being a gateway to Southeast Asia.
Recovery Advisers remains your eyes and ears on the ground in Southeast Asia, including Singapore and its neighbouring countries. With keen eyes on the political landscape, we stay abreast on political impacts on the economy so that your commercial and political risks are better secured.
Should you have any questions or require assistance to manage your commercial risks, please contact us at [email protected].
