Wong, who will remain as the Minister for Finance, will also serve as the Acting Prime Minister in the absence of the current Prime Minister Lee Hsien Loong.
Wong’s promotion comes after he was named the leader of the People’s Action Party’s (PAP) fourth-generation (4G) team on April 14.
In addition, Wong will take over the strategy group within the Prime Minister’s Office from DPM Heng Swee Keat.
Among the changes, Minister of State for the Ministry of National Development and the Ministry of Communications and Information Tan Kiat How has also been promoted to Senior Minister of State.
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Chee Hong Tat, who is currently the Senior Minister of State for the Ministry of Transport, has been appointed Senior Minister of State in the Ministry of Finance.
Chee will return to the government full-time, while Desmond Tan, who was newly appointed as Senior Parliamentary Secretary in the Ministry of Sustainability and Environment in addition to his Ministry of Transport portfolio, will join the National Trades Union Congress (NTUC).