Thai cabinet approves US$1.2 billion bid to host Formula 1 street race in Bangkok
Thailand's cabinet has approved a US$1.2 billion bid to host a Formula One street race in the country's capital, Bangkok, in 2028, government officials said on Tuesday.
If successful, the Thai capital would win a contract to host a race each year from 2028 to 2032, government spokesperson Jirayu Houngsub told a news conference.
'In the next two to three years, Thailand will have a world-class competition, which we never thought would actually happen in Thailand,' Jirayu said.
Tourism Minister Sorawong Thienthong told reporters the bid is worth about 40 billion baht (US$1.23 billion).
In March, Thai Prime Minister Paetongtarn Shinawatra met Formula One chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
Formula One has one race in Southeast Asia, at the Singapore Grand Prix. Photo: AFP
Hosting the race would help promote tourism, a key driver of Thailand's economy, the government has said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
3 hours ago
- South China Morning Post
In Singapore's last bastion of cash, money changers fight the future
In the heart of Singapore , a financial hub where billions of dollars zip around the world over computer screens in nanoseconds, there is a crowded building where cash still reigns. Advertisement Six days a week, hundreds of people line up in a rundown mall abutting Raffles Place square to buy and sell hard currency at one of around 30 money changer stalls. All manner of notes can be had in minutes: Singapore dollars for British pounds? Coming right up. Indonesian rupiah for Vietnamese dong? Icelandic króna? Maldivian rufiyaa? No problem. Some 150 currencies are available. 'Cash will remain forever,' said Abdul Haleem, 65, a veteran of the industry whose kiosk sits at the entrance to the narrow, three-story plaza called The Arcade. The towering offices of global banking giants JPMorgan Chase & Co. and Bank of China Ltd. are just steps away. The number of licensed money changers in Singapore dropped during the Covid-19 pandemic when many people were unable to travel and retail shops struggled to pay rent. But there are close to 250 physical stalls still operating, and new ones continue to spring up across the city state's 284 square miles (735 sq km) of land. That is even though multicurrency payment apps such as YouTrip, Wise and Revolut have grown in popularity. To understand how so many cash dealers can survive the digital age, you need to know a bit about Singapore's place in the world. Though it is now among the richest countries – where financial titans from UBS Group AG to BlackRock Inc. manage more than US$4 trillion and billionaires including James Dyson, Ray Dalio and Sergey Brin have set up family offices – the island nation remains a shipping and transit hub at its core. Advertisement Hundreds of vessels anchor in Singapore's harbour each day, many waiting to load and unload cargo at one of the world's busiest maritime ports. For decades, that has made Raffles Place a prime location for money changers, just a few blocks from where the Singapore River empties into the Singapore Strait. Many sailors need to swap cash from their previous locations and change money for their next destination.
South China Morning Post
6 hours ago
- South China Morning Post
How extreme heat proved Chinese military officer's undoing in classic novel
After my niece's wedding in London, I took several days off to explore the city, mostly on foot. Advertisement It was summer, but the temperature was comfortable. I was a flâneur during those few lovely days, sauntering around town and enjoying the fascinating sights and sounds of London. While my home city of Singapore is as pedestrian-friendly as London , with sympathetically preserved historical buildings and precincts, interesting contemporary architecture, and even a Unesco World Heritage site (the beautiful Singapore Botanic Gardens ), the extreme heat always makes me think twice about venturing outdoors there. There must be a flaw in the nerve receptors on my skin, because prolonged exposure to the tropical sun makes me physically ill, even when I have spent most of my life in a city where it is sweltering pretty much all the time. Singapore is pedestrian-friendly like London, but the Southeast Asian city is much hotter. Extreme summer heat is used as a plot device in a pivotal episode in Outlaws of the Marsh, a famous Chinese novel from the Ming dynasty (1368-1644).
South China Morning Post
21 hours ago
- South China Morning Post
Singapore leader's visit gives China chance to pitch itself as reliable partner for Asean
Singapore's Prime Minister Lawrence Wong will visit China next week, on a trip that is expected to give Beijing a chance to promote itself as a reliable partner for Southeast Asian countries and defender of multilateralism. China will also be keen to reassure Singapore that the Chinese economy is 'back on track' as it gears up for a trade war with the United States, analysts said. It will be Wong's first trip to China since becoming prime minister in May 2024. The visit follows his People's Action Party's decisive win in the country's general election last month. On Friday the Chinese foreign ministry confirmed the visit would start on Sunday and run until Thursday. It added that Wong was visiting at the invitation of Premier Li Qiang 'China looks forward to using this visit to further enhance strategic communication with Singapore, deepen exchanges and cooperation across various fields, jointly uphold multilateralism and free trade and to advance bilateral relations to greater heights,' foreign ministry spokesman Guo Jiakun said. Dylan Loh, assistant professor of foreign policy at Singapore's Nanyang Technological University, said trade and economic cooperation were expected to dominate the agenda.
