MOSCOW, November 7. /TASS/. Formula One executive management and Vietnam’s Hanoi promoter Vingroup signed a multi-year agreement on holding F1 Grand Prix in the Vietnamese capital starting April 2020, F1 announced in a statement on Wednesday.

“Hanoi promoter, Vingroup, has signed a multi-year deal to host the Grand Prix, which will begin as a thrilling street race in the heart of the city,” the statement said. “Working in close collaboration with the City of Hanoi authorities, the Promoter and Formula 1 Motorsport department the 5.565km track will deliver an exciting racing experience for the drivers as well as the fans.”

Commenting on the agreement to hold races in Hanoi in in two-year time, F1 Chief Executive Chase Carey said: “We are delighted to announce that Hanoi will host a Formula 1 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 1 and the Vietnamese Grand Prix is a realization of that ambition,” Carey said.

US-based corporation Media Liberty announced in January 2017 that it had closed a deal on the purchase of Formula One racing and appointed Chase Carey to take the helm of the world’s most prestigious auto racing competition, often dubbed as the Royal Racing, in the capacity of Formula One executive director and general promoter. Carey pledged at that time to come up with a number of changes to make the racing more popular.

“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,” Carey said. “This is the perfect formula for Grand Prix racing and I look forward to this becoming a real highlight of the F1 calendar.”

“We are really looking forward to seeing Formula 1 cars speeding around the streets of this fantastic city from 2020,” the F1 chief executive added.

The 2018 FIA Formula One Championship includes 21 races and began with the Australian Grand Prix in Melbourne on March 25. Two Grand Prix races remain to be decided this season and they are Brazilian GP on November 11 and Abu- Dhabi Grand Prix on November 25.

Team Mercedes pilot Lewis Hamilton won the 2018 F1 World Championship in advance becoming the five-time world champion.

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