Vietnam will host a Formula One grand prix for the first time in 2020 after a "multi-year deal" was agreed for races to be staged in Hanoi.

The Vietnamese Grand Prix is the first race to be added to the calendar under Liberty Media's ownership following their takeover.

Chase Carey, F1 chairman and chief executive, says introducing a race on a street circuit in the capital city fits in with the long-term strategy of broadening the appeal of the sport globally.

"We are delighted to announce that Hanoi will host a Formula 1 Grand Prix," said Carey.

"Since we became involved in this sport in 2017, we have talked about developing new destination cities to broaden the appeal of Formula 1 and the Vietnamese Grand Prix is a realisation of that ambition.

"We are thrilled to be here in Hanoi, one of the most exciting cities in the world right now with such a rich history and an incredible future ahead of it. This is the perfect formula for Grand Prix racing and I look forward to this becoming a real highlight of the F1 calendar.

"Our motosport team, working in collaboration with the City of Hanoi and promoter Vingroup, has worked to enable a circuit that will not only test the drivers but also ensure that our fans enjoy the racing spectacle.

"We are really looking forward to seeing Formula 1 cars speeding around the streets of this fantastic city from 2020."