PM Lee says the younger Ministers will have to master the issues quickly and there are new complex challenges facing Singapore today.
He cites specifically the dangers posed by ISIS and terrorism, political problems and racial tensions in neighbouring countries as well as tensions in the South China sea.
He highlights the urgent need to review Singapore's economy, to ensure growth in a weaker global economy and in the light of domestic demographic trends.
"The Singapore Story belongs to all of us," says PM Lee. "If we have faith that Singapore will endure and thrive, and put our heart and soul into building Singapore, then we will prevail, and secure our place in history."
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