Minister of State for Manpower Teo Ser Luck plans to go into the start-up field as he returns to the private sector after stepping down from public office on June 30.
He also steps down as mayor of North East District after his term ends on May 26, and wants to spend time with his family and continue his journey in the private sector, he said in a Facebook post yesterday.
"I plan to build, create, invest or help start-ups and businesses. Some are tech-related, while others will be in products or services which I'm passionate about. Business aside, I'm glad to continue to serve you as an MP," said Mr Teo, who has represented Pasir Ris-Punggol GRC since 2006. He was general manager of DHL Express Singapore before he entered politics and was made parliamentary secretary for the then Community Development, Youth and Sports Ministry that year.
In his post, he thanked residents, friends and colleagues for their good wishes and support, saying the decision to leave office was one he had "made and thought through for a while".
He said: "Truly appreciate that PM agreed to my request."
Prime Minister Lee Hsien Loong thanked him for his "valuable services to the Government", highlighting his active role in promoting small and medium-sized enterprises at the Manpower and Trade and Industry ministries. Mr Teo was minister of state for trade and industry from 2011 to 2015, and in 2015 took on his Manpower Ministry portfolio.
Mr Teo also promoted youth participation, corporate social responsibility and sports, launched the Singapore National Games and made a major contribution to the inaugural Youth Olympic Games in 2010.
He initiated the cycling plan, and installed lifts for overhead bridges and wheelchair access for buses at the Transport Ministry. "As mayor, he worked with the other mayors on many innovative and meaningful flagship programmes," the Prime Minister's Office added.
Tampines GRC MP Desmond Choo, who will take over as North East District mayor, said he hoped "to continue to build on the firm foundation that (Mr Teo) has built up over the years".