AmCham Board Member Jeffrey Hardee on the American business community amidst political transition in Singapore
Jeffrey Hardee, Vice Chair on AmCham Singapore’s Board of Governors and Executive Director, Government & Corporate Affairs Asia Pacific and Singapore Country Manager for Caterpillar, was quoted in an article recently published by The Straits Times on the uptick in conversation around the succession of Singapore’s Prime Minister.
Currently, there is a lack of clarity on the Prime Minister’s successor. Prime Minister Lee Hsien Loong has declared that he will step down from his position in four years, but the leadership team has yet to indicate who his successor may be. This has opened the field to successor speculation – a political staple for many countries, but unusual in Singapore – and has already raised questions on the stability of the stock market or investor confidence during the leadership transition.
While this political uncertainty is unprecedented, the business community in Singapore has largely shown confidence in the continuation of policies regardless of the eventual choice in prime minister. Mr. Hardee told The Straits Times that: “The American business community has no reason to doubt that the upcoming succession plan for political leadership will go smoothly. The Government has a system of testing would-be leaders that seems to have worked well and paid dividends.”
To read the article, click here.