Vietnam will have its Grand Prix in 2020

The project is precise. The promoters of the Formula 1 world championship made official on Wednesday the holding of a first Grand Prix in Vietnam in 2020, a historic rendezvous that will take place in April in the capital Hanoi, confirming the announcement made last week by the Communist regime.

"Since we got involved in this sport in 2017, we have talked about developing new cities and destinations to increase the interest of Formula 1, and the Grand Prix of Vietnam is a realization of this ambition," commented in a statement Chase Carey, the boss of the discipline, owned by the American group Liberty Media. This upcoming event on the world championship program becomes the first event ever to come under the banner of Liberty Media.

F1 already present in Singapore, China and Japan. Last week, the communist regime had taken the F1 owners by storm announcing the Grand Prix, which could not be confirmed by Chase Carey's entity, Formula One Group. "This Grand Prix of Vietnam symbolizes the firm commitment F1 racing in Asia, where races are already well established in Singapore, China and Japan, as part of Formula One's long-term strategy to develop the sport and reach new audiences around the world. " says the group's press release.

Promoter of the Vietnam Grand Prix, Vingroup, has signed a contract over several years and the holding of the event on a circuit in town of 5,565 km.

Potentially "huge" advertising revenue. For months, the Vietnamese authorities have been supporting this project of running on an urban circuit, which according to them must be financed by the private sector. In August, Mai Tien Dung, senior government official, had hoped that the cost would be covered by advertising revenue, potentially "huge" according to him. A first route was planned around Swan Lake (or Hoan Kiem Lake) in Old Hanoi, before the National Stadium, where the roads are wider, is preferred.