"This is the flawless formula for Grand Prix racing and I look forward to this becoming a real highlight of the F1 calendar", he added.
Formula One's commercial boss has issued a warning to the sport's most historic circuits, warning them there's no guarantee they'll be hosting a race in the future. The final race was held in 2017. "It provides an opportunity for inward investment to Vietnam and importantly to bring the exciting wheel-to-wheel racing of Formula One to the people of Vietnam", he said. "Probably not", he said of the event.
The new owner's plan is to expand the brand into non-traditional markets, starting with Vietnam.
Vietnam's concept of what grand prix racing should be about matches our vision for the sport.
Race organisers hope to tap into this energy, but will have to do so without homegrown talent.
For the record, Japan leads the way for Asia, having produced 20 drivers.
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"I'm interested and waiting for it, but I'm concerned about the quality", said Vu Cao, who works for a start-up in Ho Chi Minh City.
Some cues have been taken from existing F1 tracks, with the tight Turns 1 and 2 modelled on the opening sequence at the Nurburgring.
Carey was already one of the highlights of the formula 1 calendar.
South Korea did the same in 2013 after facing low turnout to their race in remote Yeongam, and India pulled out in the same year also over money troubles.
Retired British F1 driver David Coulthard also attended with a Red Bull demonstration vehicle. At the event, Coulthard briefly showed off the power of his race vehicle, although a concert and a collection of expensive supercars were also there to lure the crowds. "But it could be fun".
Located in a western suburb of Hanoi in the vicinity of the My Dinh National Stadium aims "to create a unique hybrid layout, fusing a street circuit's characteristics with a permanent countryside track layout", according to Formula1.com.
With all that in mind, Formula 1 promises slow-speed hairpin turns, high-speed esses and flat-out corners, and a very long, 1.5 km (0.9 miles) stretch of straight road, on which drivers and cars are expected to reach speeds of 335 km/h (208 mph). "For VinGroup individually, through the F1 racing event, we are going to proclaim the first Vietnamese auto manufacturer, VinFast, to millions of audiences in the world". And speaking of VinFast, its parent company Vingroup will serve as the promoter of the event.
"One of the things we have been intensely focused on is extending grand prix racing to iconic cities, in downtown areas, where we can best engage fans", he said.