Mr S Iswaran at the One-Year Countdown to F1 Singapore Grand Prix

Remarks by Mr S Iswaran, Minister of State for Trade and Industry at the One-Year Countdown to F1 Singapore Grand Prix, Friday 28 September 2007, 6.00pm at the Esplanade – Theatres By The Bay 

Good evening, Ladies and Gentlemen

I am pleased to join you this evening at this event to launch the countdown to the inaugural Formula One Grand Prix race in Singapore, which will be held exactly one year from now on 28 September, 2008.

I am also happy to announce that the FIA, the world governing body for motorsports, has granted in-principle approval for our street circuit, just in time for our celebration this evening.This approval has come quite quickly, within just four months since we announced the hosting of the F1 race.The Race Promoters, Singapore Grand Prix (SGP) Pte Ltd, with the strong support of our government agencies led by STB, have made good progress and are on track to presenting a very special race to the world on 28 September 2008.

Singapore's street circuit in Marina Centre is a compelling win-win proposition for Formula One and Singapore.It will be an attractive and exciting Formula One race venue on many counts.The Singapore Grand Prix is Asia’s first street race and it will run counter-clockwise, making Singapore one of only three circuits in the world to do so, along with Istanbul in Turkey and Sao Paulo in Brazil.Spanning 5.067km, with 14 left hand turns and 10 right hand turns, the Singapore street circuit will present several thrilling straights and tight turns for dramatic action that will not only test the capabilities of the F1 drivers but also satisfy even the most avid race enthusiasts.

From a Singaporean perspective, the circuit will showcase Singapore's skyline in the heart of the city and many historic buildings.It will take the F1 drivers and half a billion television viewers past some of our iconic landmarks like the City Hall, the former Supreme Court, the Padang and The Esplanade.As you can well imagine, the scene outside The Esplanade will be quite different one year from today.

The in-principle circuit confirmation from FIA will pave the way for road works to commence.The Land Transport Authority will manage modifications to some existing infrastructure such as road kerbs and traffic islands as well as the construction of a new 1.2 km road alongside the pit building that forms the start and finish straight.The FIA will make several inspections on the progress in the coming months and issue the full circuit licence after the final inspection on the week of the race itself.

We next await confirmation from the FIA on whether ours will be the first night race in F1 history.STB and other government agencies are working closely with the race promoter to ensure the lighting trials run smoothly.

More immediately, in the next couple of months, F1 enthusiasts can look forward to securing their place to share the excitement when race promoter, Singapore GP, launches the sale of corporate hospitality packages in November and of season passes in December.

As I have said before, the F1 project is a major undertaking for any race promoter and it requires the support of the Government.That we have moved this quickly is a result of the close collaboration between the race promoter and the various Government agencies who are all committed to making this race something all of us can be proud of.There is still much work to be done and I look forward to the support and understanding of all Singaporeans for any disruption and inconvenience as work progresses.

As we start the countdown today, I look forward to the collective effort and enterprise of all Singaporeans to make the inaugural F1 Singapore Grand Prix a memorable one.