Formula 1 will be heading to a new venue from the 2020 season after the sport’s officials concluded a deal with the City of Hanoi to host the Vietnam Grand Prix.

The latest race to join the F1 calendar will broaden the series’ pastures in Asia, with Japan, Singapore and China all proving highly successful events in years gone by.

Vietnam is the first race to be announced under the ownership of Liberty Media, who continues its plans to revoelucanise F1 and continue its expansion globally.

It’s understood a multi-year contract has been penned and an April slot agreed, with the 5.565km circuit is expected to give drivers and fans an exciting and innovative experience.

Chairman and Chief Executive of F1 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 realisation of that ambition.

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

“Our Motosport team, working in collaboration with the City of Hanoi and promoter Vingroup, has worked to enable a circuit that will not only test the drivers but also ensure that our fans enjoy the racing spectacle.

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

Nguyen Duc Chung, chairman of Hanoi, added: “We are proud to be hosting the Formula 1 Vietnamese Grand Prix, and showcasing the city of Hanoi to the world with its special combination of ancient and moden beauty from 2020.

“It’s a further demonstration of Vietnam’s ability, as one of the fastest growing economies in the world to host events on a global scale and attract tourism to the country.

“It provides an opportunity for inward investment to Vietnam and importantly to bring the exciting wheel to wheel racing of Formula 1 to the people of Vietnam.”