KHALED AL RASHOUD WRITES– Formula 1 has already been in Japan, Singapore, and China, but earlier this year, another name country was added to this prestigious list: Vietnam. Liberty Media Corporation, the owner of Formula 1, announced that this historically rich country would be on the 2020 calendar.
Since bringing Formula 1 to Asia in the early 2000s, Liberty Media has seen an explosion of interest in not just the races, but choice of locations. Vietnam marks a strategic decision capitalizing on the current wave of tourism there and the ever-growing popularity of F1.
Vingroup, which intends to sponsor the event in the ASEAN nation, has spent years organizing the event. Titled Grand Prix, it will be held on a street circuit in the heart of Hanoi, with a track that spans 3.45 miles.
Chase Carey, Chairman and Chief Executive of F1, said “we are delighted to announce that Hanoi will host a Formula 1 Grand Prix. Since we have been involved in this sport in 2017, we have talked about developing a new destination to broaden the appeal of Formula 1,” adding, “The Vietnamese Grand Prix is a realization of that ambition.”
Nguyen Viet Quang, CEO of Vingroup, also noted his excitement at seeing the Formula 1 Grand Prix in Vietnam: “We are really looking forward to seeing Formula 1 cars speeding around the streets of this fantastic city from 2020.”
The Vietnamese circuit , combined with the efforts of Hanoi City officials and Vingroup, will most likely ensure that fans have an experience they will not quickly forget. “An essential part of this collaboration has been making sure that we not only showcase the city of Hanoi but also deliver an exciting race for Formula 1 fans in Vietnam and around the world,” Quang said. Nguyen Duc Chung, chairman of Hanoi City, added that the Vietnamese Grand Prix is a “demonstration of Vietnam’s ability, as one of the fastest growing economies in the world, to host events on a global scale and attract tourism to the country.” Although an expensive venture, it is also likely to boost employment.
“Vingroup wants to bring this race to Vietnam because of the general benefits to the society such as more jobs will be created, the infrastructure of Hanoi will be upgraded, and other bigger worldwide events will be encouraged to take place in Vietnam,” Quang said.
It looks like there will be many winners in the Vietnamese Grand Prix.