Singapore considers bid to host Formula 1 race

Singapore considers bid to host Formula 1 race
Mar 8, 2007 19:59
HELPSLAYER Points: Join Date: Mar 6, 2007 Status: offline	Singapore may bid to host a Formula One Grand Prix race as part of ongoing efforts to boost tourism, a trade official said. Minister of State for Trade and Industry S. Iswaran has been studying the feasibility of holding an F1 race, and the government was "willing to support such a venture up to a level commensurate with the broader benefits to the economy." "To be known and seen as a truly global city, we must have ... not just a wide variety of quality lifestyle, leisure and entertainment options but also world class events," Iswaran told Parliament on Monday. "This is why we are taking a very serious look at hosting a Formula One Grand Prix in Singapore." The move would benefit the hospitality, retail and travel industries, he said. "The attention and buzz that it generates will expose Singapore to a very different audience from that in the business and financial world. It is a group we currently do not reach out to," he said. Lee Kuan Yew, a senior Cabinet minister and the founder of modern Singapore, said two years ago he regretted making the "stupid decision" not to allow Formula One racing in the city-state, as it would have benefited the economy.

Mar 8, 2007 19:59

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Singapore may bid to host a Formula One Grand Prix race as part of ongoing efforts to boost tourism, a trade official said.

Minister of State for Trade and Industry S. Iswaran has been studying the feasibility of holding an F1 race, and the government was "willing to support such a venture up to a level commensurate with the broader benefits to the economy."

"To be known and seen as a truly global city, we must have ... not just a wide variety of quality lifestyle, leisure and entertainment options but also world class events," Iswaran told Parliament on Monday. "This is why we are taking a very serious look at hosting a Formula One Grand Prix in Singapore."

The move would benefit the hospitality, retail and travel industries, he said.

"The attention and buzz that it generates will expose Singapore to a very different audience from that in the business and financial world. It is a group we currently do not reach out to," he said.

Lee Kuan Yew, a senior Cabinet minister and the founder of modern Singapore, said two years ago he regretted making the "stupid decision" not to allow Formula One racing in the city-state, as it would have benefited the economy.

Mar 8, 2007 20:24	#1
SERENA07 Points: Join Date: Feb 7, 2007 Status: Offline	Good news for F 1 fans in Singapore. ^_^

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