F1 contracts not disadvantageous to the government: MTI

The government said preparations for the Grand Prix are “on track.”

The Ministry of Trade and Industry assured the public that contracts related to the F1 Grand Prix will not be disadvantageous to the government.

MTI added that it carefully considered the terms of all F1 agreements.

“There was an independent consultancy study,” MTI said.

MTI also shared that preparations for the F1 Singapore Grand Prix in 2024 are on track.

Since 2008, F1 has generated around $2b of incremental tourism receipts and more than 550,000 international visitors.

The 2024 Grand Prix will be held between 20 – 22 September 2024.

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Ministry of Trade and Industry

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