F1 set for Vietnam Grand Prix in 2020

Formula One looks to be close to finalising a deal that would bring the series to Vietnam. Hanoi city officials say that F1 will be heading to Vietnam for a race in April of 2020 with a street race around the capital city joining the calendar.

According to city officials, details of the event will be unveiled at a gala held by the Hanoi People's Committee. In the invite for the event, a statement the hosts revealed the plans for the race will break cover for the first time.

Local government officials had said earlier in the year they would be keen for a race on the condition that it would not significantly dip into government funds to host the race.

"The prime minister said if Hanoi hosts (a race), the budget should be from the private sector," Mai Tien Dung, head of the government office, said back in August.

Although Vietnam has little history in motorsports, it would be joining Singapore as the only other Southeast Asian race on the F1 calendar if the race does indeed become official.

FIA race director Charlie Whiting gave backing to the event, saying that it would not be a problem organising the race.

He also revealed to Fox Sports Asia that he had been to Hanoi and added that he was confident that the project would be ready in time for 2020.