Lawrence Wong has been inaugurated as Singapore's new Prime Minister, succeeding Lee Hsien Loong.

In his inaugural address, Wong called for a new Singapore Dream and a collective effort to shape the nation's future.

He expressed a need to build on the foundations set by previous leaders and to engage younger Singaporeans in leadership.

Wong introduced 'Forward Singapore' aimed at creating a more inclusive society and will maintain his role as Finance Minister.

He emphasized continuity and stability, retaining current ministers, and preparing for general elections and an inclusive agenda.

His primary focus is on maintaining Singapore's development and its role as a neutral party between the US and China.

Wong faces challenges such as international diplomacy experience, rising costs of living, and the aspirations of the younger population.

Analysts believe Wong's ability to relate to different demographic segments will be key for the upcoming 2025 general election.

Regional leaders have congratulated Wong and look forward to continued prosperity and cooperation between Malaysia and Singapore.