Group of People Waving Vietnamese Flags in Backlight
The 2020 Vietnam Formula 1 Grand Prix, which was planned to be included in the calendar, never happened due to a series of unfortunate events. Despite efforts, it seems unlikely that the race will take place someday.
Liberty Media, the organizer of F1, has expressed interest in expanding the sport’s presence in the Asian market. While China, Japan, and Singapore have been consistent stops on the F1 calendar, Malaysia used to be included as well.
There was a strong desire to have a fourth Grand Prix in Asia, and Vietnam was the chosen destination for 2020. The country has a dedicated fan base for the sport and has experienced economic growth, especially in tourism. It has the necessary infrastructure and resources to successfully host a global event.
Vietnam also has an existing TV contract that supports the sport, and several betting houses operate in the country, offering a wide range of sports and betting options.
However, due to the global coronavirus pandemic, the 2020 Vietnam Formula 1 Grand Prix had to be canceled. This decision was made considering the ongoing uncertainty caused by the pandemic.
The first Vietnam Grand Prix, which cost £540 million to build using a combination of public roads and purpose-built track, was originally scheduled for 2020 but had to be postponed. The Hanoi street circuit was ready for the race to take place in 2021.
Unfortunately, a significant setback occurred when Nguyễn Đức Chung, president and mayor of the People’s Committee of Hanoi, was arrested in 2012 on corruption charges unrelated to the F1 in Vietnam. Chung was a major supporter of the Grand Prix in Vietnam, and his arrest tarnished the event’s reputation. Since then, there has been little discussion about the race, and official updates on the GP have ceased since 2020.
As a result, the Hanoi street circuit remains unused and neglected, with no plans for its future use. Although there have been rumors of discussions between Stefano Domenicali and the current mayor of Hanoi, Tran Sy Thanh, in 2023, there is no concrete information suggesting that the race will return to the calendar anytime soon.
There have been suggestions that Thailand could potentially host a street race and be added to the F1 calendar in the future.
Meanwhile, Formula 1 executives and Liberty Media have already begun discussing alternatives for a new Grand Prix in Asia. It appears that Thailand is the most likely choice, as Domenicali has met with the country’s prime minister, Srettha Thavisin. The intention is to build a street circuit in Bangkok, similar to that of Las Vegas. It is worth noting that Red Bull, which is partially owned by Thai billionaire Chalerm Yoovidhya, is involved in this endeavor.
Consequently, the Formula 1’s brief affair with Vietnam seems to have come to an end. It can be considered as a race that never materialized.
