SINGAPORE: Singapore will continue to host the Formula One (F1) Grand Prix only if the terms for a full five—year extension are economically viable.
The government has conveyed its stance to race promoter Singapore GP, said Second Minister for Trade and Industry S Iswaran in a written reply to a parliamentary question.
Negotiations between Singapore GP and Formula One Administration on the terms of the extension are still ongoing.
"We hope to see a mutually agreeable outcome soon," said Mr Iswaran.
Mr Iswaran said the Singapore F1 Grand Prix has benefited Singapore and helped to transform the Singapore tourism sector.
The Singapore night race has also added a new dimension to F1.
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