by Ernie B. Calucag
Singapore’s Economic Development Board (EDB), the government’s lead agency for economic planning, will have a new chief next month.
EDB announced on Friday that Assistant Managing Director Yeoh Keat Chuan will be promoted to managing director with effect from July 1.
Current EDB chief Beh Swan Gin, a medical doctor by training who has led the agency since 1 August 2008, will be appointed permanent secretary of the Ministry of Law on the same day.
Under Dr Beh’s leadership, EDB continued with its expansion into new geographies, such as Brazil and the inner cities in China. This is part of the agency’s plan to actively pursue opportunities in new areas, such as urban solutions, lifestyle and consumer businesses, to complement and strengthen Singapore’s current portfolio of industry clusters.
EDB also aims to attract global companies in the commodity and energy industries.
Last month, commodities trader Trafigura said Singapore would become its main trading centre as it seeks to tap booming regional demand, dealing a blow to Switzerland as a commodities hub.
In a separate announcement Friday, the Monetary Authority of Singapore (MAS) re-appointed Minister for Trade and Industry Lim Hng Kiang to MAS’ board of directors as Deputy Chairman.
His appointment for another two-year term will take effect from June 1.
Professor Tan Chorh Chuan, president of the National University of Singapore, was also appointed to the board of directors for a two-year period from 1 June 2012.
Professor Tan is also the deputy chairman of the Agency for Science, Technology and Research (A*STAR) and current chair of the International Alliance of Research Universities.