Vietnam Denies F1 Prospects Just Yet

Earlier this month, some reports have emerged about the possibility of Vietnam hosting a Formula One race in the future. Although the exact time of such a project was not revealed – in fact, the project itself was in question – the idea sounded pretty exotic to every F1 fan out there.

As a short reminder, it was reported that Hans Geist, the entrepreneur that was formerly linked in the past with F1 forays in Russia, Austria and Bahrain, had launched a $150 million project proposal to Vietnam's ministry of planning and investment for a brand new racing track. The circuit, which would be built to satisfy the FIA requirements for a potential F1 race, would be located near Nha Trang Bay in central Khanh Hoa province.

Additionally, despite the lack of proper discussions centered on the project, it was reported that such a complex would be built in 3 years time, once the necessary funding would be secured. We're not sure who made the estimates, but it's not like any of this is official anyway.

One thing that does come from a Vietnamese official, however, is that neither of the interested parties – neither Geist, nor the Vietnamese authorities – have discussed anything just yet. While avoiding to deny such a project exists, the deputy minister for Planning and Investment, Dang Huy Dong, insisted people should hold their breath before considering a Vietnamese GP just yet.

“To date, the only thing the investor has done is meet with relevant Vietnamese authorities to find out about the feasibility of the project,” said Dong in a recent interview with the Thoi bao Kinh te Viet Nam newspaper.“It is too early to say if such a project will really take place in Vietnam.”