The race will take place around the streets of the capital Hanoi on a 5.565km track.
"The Vietnamese Grand Prix is a realisation of that ambition".
Vietnam is a growing market for sponsors such as brewer Heineken HEIN.AS and would be give East Asia four races on the calendar again after the departure of Malaysia. Formula One races are already well established in Singapore, China and Japan.
Silverstone's hand has been strengthened by several public statements from F1's bosses promising they would preserve "heritage races", but Bratches has now revealed that the sport is not afraid of replacing some of its most iconic venues.
It is the first new confirmed event unveiled by Liberty Media since its takeover of Formula 1 in early 2017, though it previously released proposals to race in Miami, which are now on hold. I'm talking about the Silverstones, the Spas, the Monzas of this world.
Maduro teme sanciones; repatriará oro de Londres
En aquel momento, el entonces mandatario argumentó que la medida era para "soberanía en el manejo de los activos". Mientras tanto, ni el BCV ni el Banco de Inglaterra han hecho comentarios al respecto.
News of the Vietnam Grand Prix's confirmation on the 2020 Formula 1 calendar was followed by just one question: what will the circuit look like?
"The third segment features purpose-built facilities such as Shanghai, Austin, Texas and Bahrain".
"We are delighted to announce that Hanoi will host a Formula 1 Grand Prix".
Bratches envisions more races in cities like Hanoi and said F1 was carefully considering where to go next based on a number of offers from around the world.
"We're a 68-year-old entity and the nature of grand prix racing is that it is dynamic", he said in an F1 press release. "It provides an opportunity for inward investment to Vietnam and importantly to bring the exciting wheel to wheel racing of Formula 1 to the people of Vietnam". A street circuit is a great way to do that.