Kimi Raikkonen, formula 1, US grand prix
Kimi Raikkonen after winning US Grand Prix 2018Formula 1

Vietnam is all set to host its first ever Formula 1 race on the streets of capital city Hanoi. Formula 1 and the City of Hanoi on Wednesday (November 7) announced that a Grand Prix will be held in the Vietnamese capital in April 2020.

The first new race to be announced after Liberty Media's ownership of Formula One, Vietnamese Grand Prix will join Singapore, China and Japan Grand Prix in the Asia region.

Formula One confirmed that 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. Vietnam will become F1's fourth street race - joining Monaco, Singapore and Azerbaijan having 22 turns in the 5.565km track.

Formula One's motorsports team has worked with circuit design company Tilke to create a semi-permanent street track, using both existing and purpose-built roads for the Vietnamese Grand Prix.

Located on the western side of Hanoi city in the vicinity of My Dinh National Stadium, the street track is ideal for wheel-to-wheel racing while retaining a closed-in street feel that makes city race tracks so demanding for drivers, confirms Formula One officials.

A Vietnam streetHOANG DINH NAM/AFP/Getty Images

The circuit features a range of corners from a slow-speed hairpin and technical slow- to medium-speed corner combinations to high-speed esses and flat-out corners and long straights – one of which is 1.5km in length, with expected speeds of 335kmph through the speed trap.

"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," said Chase Carey, the Chairman and Chief Executive of Formula 1.

Vietnam Grand Prix
David Coulthard of Scotland and Red Bull Racing waves the Vietnamese flag during the Red Bull Racing Vietnam show run on May 4, 2018 in Ho Chi Minh City, Vietnam.Thananuwat Srirasant/Getty Images

Previously, Malaysia, India and South Korea had also hosted Formula 1 races. Malaysia was scrapped following the 2017 race due to poor ticket sales while the Korean Grand Prix was removed after the 2013 race by the FIA because the organisers did not wish to host it. After three years of a run between 2011 and 2013, Indian Grand Prix was axed because of a tax dispute with the Uttar Pradesh government.

United States Grand Prix, Formula One
Raikkonen, Verstappen and Hamilton while racing at US Grand Prix 2018.Clive Mason/Getty Images