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The Hanoi People's Committee has announced at a press conference that an inaugural Vietnam Grand Prix Formula One race will be held in April 2020 on the main urban streets around Hanoi's My Dinh Stadium.
Primary sponsor Vingroup says it has a renewable 8-year deal with Liberty Media to host the race.
The race is expected to give Hanoi tourism a major boost, and create large numbers of jobs.
As of 2020, annual Formula One races will be held in 22 countries.
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