Thailand approves $1.2 billion proposal to host Formula 1 race

The Thai government said on June 17 that the country's cabinet has approved a proposal to spend 1.2 billion USD to host a Formula 1 race in the capital Bangkok in 2028.

Racing cars practice before the Formula 1 (F1) Grand Prix in Montmelo, Spain. Photo: AFP/TTXVN

Thai government spokesman Jirayu Houngsub said that if successful, the capital Bangkok would win the contract to host the annual race from 2028 to 2032.

Thai Prime Minister Paetongtarn Shinawatra has met Formula 1 CEO Stefano Domenicali several times in recent months to push the project, and said Thailand would conduct a study on hosting a Grand Prix on the Bangkok circuit from 2028.

The Thai government has welcomed the idea of a sustainable race, saying the Grand Prix could benefit the country by $600 million.

The Bangkok race layout has not been revealed, but government spokesman Jirayu Houngsub said it could include an area near Chautuchak market in the north of the city, which is a popular tourist attraction every weekend.

Source: https://bvhttdl.gov.vn/thai-lan-phe-chuan-de-xuat-chi-12-ty-usd-dang-cai-to-chuc-chang-dua-cong-thuc-1-20250618084718096.htm