Now that Hanoi is officially hosting a Formula 1 Grand Prix in 2020, the city is to undergo massive infrastructural development in preparation for the event.
Hanoi recently approved multiple infrastructure projects, which are expected to cost a total of VND640 billion (US$27.5 million), to prepare for the Formula One race, VnExpress reports. The developments are expected to transform the area surrounding My Dinh Stadium.
Do Xuan Hop Street, which runs alongside the stadium, will be widened. In addition, the canals running alongside Nguyen Co Thach and Dong Bong streets will be filled, allowing for the creation of four- or five-lane roads heading in either direction — ideal for a Formula One circuit route.
"We must cover [it] to build the circuit," Nguyen Manh Quyen, head of the city's Department of Planning and Investment, told VnExpress.
Substantially smaller is the Dam Bong Channel, which will also be filled in order to build the new circuit. The waterways are polluted by copious amounts of sewage, with the larger of the two being three feet deep.
The My Dinh Sports Complex proved to be an appealing location for the Formula One Grand Prix since the area already has wide roads. In Nam Tu Liem, construction for the race has already begun. Remodeling is expected to be completed by April of 2020, when the race is set to take place.
While these massive infrastructural overhauls may benefit the city, the Prime Minister previously suggested that public funds would not be used to cover the cost of the event. The Minister and Chairman of the Government Office, Mai Tien Dung, stated to the media that revenue from the event would be substantial and that advertisements could potentially cover the cost of the race.
Hosting the Formula One Grand Prix in 2020 will bring a new wave of international attention to Hanoi, and will likely have an effect on the nation's growing tourism industry. The race itself is considered to be one of the more lucrative forms of advertising for tourism across the world, with 390 million television viewers watching F1’s 21 races last year, according to Forbes.
