F1 race will be held in Hanoi's My Dinh sports complex in April 2020 and Hanoi is already recalling lands to build the road.
With those who struggled through Hanoi traffic, F1 race held in the capital is obviously exciting news. In early October, 2018, the International Automobile Federation’s (FIA) F1 race director Charlie Whiting has visited the capital of Vietnam to study the feasibility of organizing a race here. And not long later, Formula One Group chairman Chase Carey said in a statement: "We are delighted to announce that Hanoi will host a Formula One Grand Prix".
“Since we became involved in this sport in 2017, we have talked about developing new destination cities to broaden the appeal of Formula One and the Vietnamese Grand Prix is a realization of that ambition.
“We are thrilled to be here in Hanoi, one of the most exciting cities in the world right now with such a rich history and an incredible future ahead of it.”
Now, as the next step of preparation, Hanoi Chairman Nguyen Duc Chung has proposed to the prime minister to transfer the authority over the land in Nam Tu Liem District from the Ministry of Culture, Sports and Tourism to Hanoi People’s Committee to build the road for the race which will be held in the city in 2020.
The Ministry of Culture, Sports and Tourism planned to build two stands with 5,000 seats on 6.8 hectares of land and the rest would be used for supporting buildings. However, while the project hasn’t been started yet, the land has been leased out for short terms of three months, six months and one year. The restaurants and parking lots have been shut down and cleared when the land was recalled.
The F1 race is wholeheartedly supported by local people and authorities. According to Hanoi authorities, the competition is not going to count on the state budget, but will be sponsored by a top private group. The total expenditure is estimated to start from $60 million.