Investment
F1 circuit demonstrates Vietnam’s capability to hold major int’l events: Aussie PM
The Australian leader expressed his gratitude and pride as several Australian enterprises are jointly working, supporting and providing consultancy for the host city of the F1 Vietnam Grand Prix.
The success of Formula 1 race in Hanoi demonstrates Vietnam's capability to host significant world events as well as its gains in economic growth, Australian Prime Minister Scott Morrison stressed during his visit to the F1 circuit in Hanoi, where the F1 Vietnam Grand Prix is slated to take place in April 2020, the Economic and Urban Newspaper reported.
Morrison said that the F1 race in Vietnam will draw the attention worldwide and highlight Vietnam and Hanoi’s position in the world map as well as create impacts among world press, which in turn will further spur the country’s economy and tourism potential.
The event will attract thousands of foreign visitors, who are passionate about the sport, thereby promoting the development of high-end restaurants and hotels, and introducing the hospitality of Vietnamese people.
The Australian leader also expressed his gratitude and pride as several Australian enterprises are jointly working, supporting and providing consultancy for the host city of the F1 Vietnam Grand Prix, which will leave the Australian imprints in the development of Vietnam’s economy.
He also believed this cooperation will be fruitful, thereby proving the increasingly strong and effective relations between Australia and Vietnam.
Vice Chairman and CEO of Vingroup, the exclusive sponsor of the F1 race, Nguyen Viet Quang affirmed that the project has been supported by many foreign partners, especially Australia’ Grand Prix Corporation – the organizer of the F1 race in the country, and the Confederation of Australian Motor Sport.
After only four months of execution, the executive center building, the largest-scale item of the project has been roofed and in the process of being completed.
The bidders are repairing the racing sections before paving it with the special asphalt mats according to Grade 1 standards of F1 racing. In the newly built racetrack area, road foundation construction is basically completed. Other items of the track such as overpasses, stands, safety fences, and media centers are also being prepared and executed as planned.
All construction and infrastructure works are expected to be completed by December 31, 2019.
Projected overview of the F1 race. Photo: autoevolution.
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The event will attract thousands of foreign visitors, who are passionate about the sport, thereby promoting the development of high-end restaurants and hotels, and introducing the hospitality of Vietnamese people.
The Australian leader also expressed his gratitude and pride as several Australian enterprises are jointly working, supporting and providing consultancy for the host city of the F1 Vietnam Grand Prix, which will leave the Australian imprints in the development of Vietnam’s economy.
He also believed this cooperation will be fruitful, thereby proving the increasingly strong and effective relations between Australia and Vietnam.
Vice Chairman and CEO of Vingroup, the exclusive sponsor of the F1 race, Nguyen Viet Quang affirmed that the project has been supported by many foreign partners, especially Australia’ Grand Prix Corporation – the organizer of the F1 race in the country, and the Confederation of Australian Motor Sport.
After only four months of execution, the executive center building, the largest-scale item of the project has been roofed and in the process of being completed.
The bidders are repairing the racing sections before paving it with the special asphalt mats according to Grade 1 standards of F1 racing. In the newly built racetrack area, road foundation construction is basically completed. Other items of the track such as overpasses, stands, safety fences, and media centers are also being prepared and executed as planned.
All construction and infrastructure works are expected to be completed by December 31, 2019.
