Hanoi municipal authorities are planning for next years, first ever Formula One (F1) race, which will be held in Vietnam’s capital city and have completed a detailed plan for the event. More than 88 hectares (217 acres) around the My Dinh National Stadium in outlying district of Nam Tu Liem will be used to build the circuit, stands and a helipad for the F1 Vietnam Grand Prix. The circuit will be 5.565km long, including the existing track of the stadium plus a newly-built 1.5 km section.
The city will keep the existing functional area of the stadium for the stands and area for organizers. Items that need to be built include a helipad, an operating room, a three-story pit building for watching the race from above, a racetrack overpass, a broadcasting center, a medical center, a warehouse, and a car park. Authorities in Nam Tu Liem District have already demolished dozens of shops near the My Dinh Stadium's left wing to build stands for race spectators.
It was announced last November 2018 that Vietnam would become the third Southeast Asian nation to host an F1 race after Malaysia and Singapore with the country’s first race scheduled for April 2020.
The event will be organized by Vingroup, Vietnam’s largest private conglomerate. As part of the city’s commitment, Hanoi authorities announced that they plan to spend $27.5 million USD (640 billion VND) on infrastructure construction. This will include work to fill up channels and widen roads. As part of the city’s plan, the circuit will be used as a regular road after the race.
Besides the main race, which will take around four hours, there will be parades and exhibitions, organizers have said. Vingroup and the Hanoi city government expect to earn revenue from broadcasting rights, ticket sales, event advertising, merchandising and side events.
The FIA Formula One World Championship, or Formula 1, is an international single-seat auto racing competition sanctioned by the International Automobile Federation (FIA). It has been one of the most popular forms of racing around the world since its inaugural season in 1950.
Each season of Formula 1 consists of a series of races held worldwide on purpose-built circuits as well as public roads. Out of the 21 races in this year's season, six will be hosted in Asia - Bahrain, China, Japan, Macau, Malaysia and Singapore.