Singaporean Finance Minister Heng Swee Keat will become Deputy Prime Minister from May 1, the Prime Minister’s Office (PMO) of Singapore announced on April 23.

(From left) Heng Swee Keat , Teo Chee Hean and Tharman Shanmugaratnam (Source: straitstimes.com)

Heng, 57, will remain Finance Minister, and continue chairing the Future Economy Council and National Research Foundation of Singapore. He will be appointed Acting Prime Minister in case Prime Minister Lee Hsien Loong is absent.

According to the PMO’s statement, both existing deputy PMs – Teo Chee Hean and Tharman Shanmugaratnam – will relinquish their appointments. They will be appointed Senior Ministers and remain in Cabinet.

The statement said Teo, 64, will continue as Coordinating Minister for National Security. Meanwhile, Tharman, 62, will be re-designated as Coordinating Minister for Social Policies, and continue to advise the PM on economic policies.

In a Facebook post, Singapore PM Lee Hsien Loong said the changes are part of the ongoing leadership renewal in the country.

Singapore carried its last cabinet reforms in April last year.

(Source: VNA)