Vietnam could be the next country vying to join the ever-growing formula one calendar.
Hans Geist, linked in the past with F1 forays in Russia, Austria and Bahrain, has proposed a $150 million project to Vietnam’s ministry of planning and investment.
The proposal is for a formula one circuit to be located near Nha Trang Bay in central Khanh Hoa province, according to vietnamvet.vn.
"The dynamic economy of Vietnam and tourism potential are good reasons for building a circuit here," said Geist.
He did not say when the proposal would move forwards but construction would take three years.
"Formula one ... will guarantee a professional business communication for Vietnam and its international recognition. It will certainly stimulate Vietnam’s economy, tourism and infrastructure," added Geist.