With the hosting for the first time of a Formula 1 car race event in Hanoi, Vietnam hopes to drag more international interest to the country with the prestigious event and rushes to complete the circuit by January.
Vietnam Grand Prix street circuit in Hanoi is evolving as planned according to authorities in Vietnam, with the venue expected to be completed in January. Crews of workers are engaged into the final phase of the construction process, with work design and planning under the guidance of F1’s resident circuit architect Hermann Tilke. Construction of the 5.6 km track which will feature 23 corners following the FIA and F1 requests. The team involved into the development of the circuit already designed the layout of Singapore Marina Bay Circuit.
The Vietnam Grand Prix circuit will be a hybrid design mixing permanent and street sections – will run to 5.6km in length and feature a whopping 1.5km straight, with top speeds of around 335km/h expected. The circuit will also feature a 300m-long pit building, inspired by Hanoi’s Imperial Citadel of Thang Long, and built especially for the Grand Prix’s arrival. It is located in the vicinity of the convention centre and is built at an estimated cost of US$200 million.
It represents an important step in Vietnam positioning as an international sport venue. It will be the first time that the prestigious Formula 1 event will be hosted in the country. Vietnam will become the 33rd country to host a round of the F1 world championship, due to take place on April 3-5.
The circuit is part of the Vingroup, which is one of the top investors in real estate and tourism infrastructures. The group formed a new unit, Vietnam Grand Prix Co. with registered capital of US$42.9 million, to host the event.
“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,” Vingroup Chief Executive and Vice Chairman Nguyen Viet Quang said in a statement following the announcement back to 2018.
Singapore, which draws millions of television viewers around the world for the F1 Grand Prix, has seen the F1 contract renewed up to 2021. Malaysia however pulled out of hosting the race as it incurred large financial losses for Sepang circuit.