May 4, 2025
Investors

Singapore Election 2025: Investors, foreign powers will see strong mandate as a signal of ‘trust, stability and confidence’: PM Wong


[SINGAPORE] Investors and foreign governments will view the results of the general election – in which the ruling People’s Action Party (PAP) improved its vote share to 65.57 per cent – as a clear signal of “trust, stability and confidence” in the government, said Prime Minister Lawrence Wong.

“The results will put Singapore in a better position to face this turbulent world,” he said at a press conference at The Treasury in the early hours of Sunday (May 4).

He noted that the election took place at a critical time amid a “changed world”, with Singapore facing not just an economic slowdown but “fundamental shifts” in the global order.

With the PAP’s vote share improving from the 61.24 per cent it achieved in 2020, PM Wong said: “Singaporeans have given the PAP a strong and clear mandate to govern.”

The PAP took 82 out of 92 contested seats, making for a total of 87 out of 97 seats, with an earlier five seats won via a walkover in Marine Parade-Braddell Heights GRC.

Thanking voters for their faith in the PAP team, he said the mandate received is a “heavy responsibility”.

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In a call for unity between the government and opposition, he stressed that the “real contest” is between Singapore and the turbulent world, with the city-state being the underdog.

“To improve our chances, we cannot afford to fight one another.”

Noting that his immediate task is to form the next Cabinet, PM Wong said he was grateful that all “key members” have been voted in, adding that he will announce the line-up when ready.

But when asked about the major considerations for the next Cabinet, he only said: “That’s for another press conference.”

As for what role labour chief and former minister Ng Chee Meng might take – with his return to Parliament through a narrow victory in Jalan Kayu SMC – PM Wong merely noted that in previous line-ups, labour chiefs have had potential roles in Cabinet.

Hot topics

One issue that came up in this election, said PM Wong, was the wish for more opposition MPs and alternative voices. He said that he respects this desire, but that the key to bring Singapore forward is “effective governance”.

The WP’s “strong slate” of candidates gave the PAP a “tough fight” as expected, he added. The WP has 10 elected seats, and will – if the party chooses to accept the offer – have another two Non-Constituency MP seats.

“I respect the opposition presence in Parliament,” said PM Wong, adding that he will continue to take their suggestions seriously, and believes there will be “constructive and robust” debate.

But where critical national issues are involved, the government and opposition have a shared responsibility to come together and advance Singapore’s interests together, he said.

Another issue that PM Wong flagged was the mixing of race and religion in politics, which he called out mid-campaign. Noting that the situation did improve, he said he was heartened by opposition parties’ move to “reject identity politics”.

As for PAP slates failing to defeat the WP in its strongholds of Aljunied and Hougang, as well as Sengkang, he said: “They did not win, but they fought hard and made their mark.”

PM Wong vowed that the PAP will “not give up” and continue to engage with residents in these areas.

As for concerns over the cost of living and housing, the PAP will work harder for “concrete progress” on these issues.

If economic growth slows, that will exacerbate cost-of-living concerns, said PM Wong, adding that the ruling party is prepared to activate “drawer plans” if the situation worsens.

Noting that cost-of-living worries also extended to housing and healthcare, he added that there are plans to strengthen support in these and other areas, as laid out in the PAP’s manifesto. “We will certainly be rolling out more concrete plans in the coming years.”

Results and expectations

Asked if the results met expectations, PM Wong said that voters seem to have accepted the PAP’s message about the changed world and the storms ahead.

“With the mandate we have now, we will honour it by working even harder for Singapore and Singaporeans,” he said.

Another question was whether the PAP could have done better in Tampines GRC, where it had its second-slimmest win due to the WP’s strong performance in a four-way fight. PM Wong said that the party will look at these results more carefully and see where it can do better.

As to whether there was a “flight to safety” in this election, PM Wong said that such a phenomenon is “hard to predict”, noting that it did not occur in the GE2020 election, which happened during the Covid-19 pandemic.

But he acknowledged that in this campaign, the PAP did emphasise the need for a strong team to overcome the challenges ahead.

“That was our message, and the results will show that Singaporeans understood the message,” he said.

For more election coverage, visit our GE2025 microsite



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