Racetrack given the go ahead in Singapore!
The Singapore Government announced today that it will be developing the motor sports industry in Singapore by working with the private sector to build a permanent race track located in Changi.
A Request for Proposal for the permanent racetrack, located on a 20-hectare plot with a tenure of 30 years, is expected to go out in May 2008. The racetrack is expected to be completed by end 2010 / early 2011 – refer to fact sheet for details on racetrack.
“The government has identified the motor sports industry as a growth industry that will contribute to sports development and the economy in Singapore. In our discussions with the private sector, industry players shared that the development of a permanent racetrack is critical for us to develop a comprehensive motor sports industry. The government has thus decided to facilitate the private sector’s development of a permanent racetrack. The project will be fully funded by the private sector,” said Minister for Community Development, Youth and Sports, Dr Vivian Balakrishnan.
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“The Singapore Sports Council will head a cross government agency working group to develop a comprehensive motor sports development plan for sports and economic development. Motor sports is the 3rd most popular spectator sport behind the Olympics and the World Cup.
Many races are given extensive media coverage worldwide with global networks. This will certainly provide a boost to sport participation, excellence and industry. Motor sports is also a high-end high value industry from which premier automobile manufacturers and Tier 1 suppliers from the USA, Europe and Japan draw their technical and engineering expertise.
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Many of these companies already have a base of operations in Singapore, from Regional Headquarters to R&D centres and manufacturing facilities. Motor sports development is expected to lead to the birth and growth of direct and indirect motor sport businesses in sectors like services, engineering, logistics, training and education. Singapore has the infrastructure, technical expertise, manufacturing and R&D capabilities to facilitate the growth of the motor sports industry.”
The Singapore Sports Council will be facilitating the planning and development of the motor sport industry. Together with the Singapore Motor Sports Association and other government agencies, they will identify talent and development for locals and local motor events, while bringing in international motor events; industrial attachments to international motor sport industries and even professional race teams for exposure and expertise and looking at low-cost entry giving access to the general population with the aim to drive up motor sport interest.
Credits: nikolaiski
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