SINGAPORE: The SingTel Singapore Grand Prix is already one of the top three must-see races on the Formula 1 calendar.
But with new venues entering the series, F1’s only night race will face stiff challenges to keep its sheen as a showpiece, said Mr S Iswaran, Second Minister for Trade and Industry, on Monday.
Two new street circuits next year will especially up the ante: New Jersey, with the stunning Big Apple skyline as the backdrop, and Russia’s resort city, Sochi.
But Mr Iswaran is confident that organisers Singapore GP and the various government agencies are up to the challenge after spending the last five years building the night race into a top attraction and putting Singapore on the map as a place that “can really stage world-class events”.
He was speaking on the sidelines of the signing of a Memorandum of Understanding between Singapore GP and the Institute of Technical Education to extend their partnership for a further five years. Mr Iswaran said the key is to further enhance the content for race-goers and to work with more businesses to achieve this.
“I think the challenge for us going forward is how to keep that edge, the identity that we are one of the must-see events on the (F1) calendar,” he said. “This is something the organisers have to work harder because it is a question of refreshing your content.
“It’s not just about the concerts although the concerts are an important part. But it is also about finding new ways to collaborate with other businesses and creating new ways for fans to experience the event.
“That challenge becomes sharper because there are newer circuits coming into the F1 calendar, so they will offer something different yet again. We have to make sure we are the top of mind and attention among the F1 fanbase.”
There is also the urgent need to ensure the race continues to reach out to more Singaporeans through agencies like the People’s Association.
That is what will make the Grand Prix here a really successful event, said the minister.
“We also have efforts to reach out to the larger community as well… to make sure that it goes into all quarters of Singapore. As I said earlier, what will define the F1 race is not just Singapore, not just the venue, it’s also the involvement of the people. And that’s something we have been working on aggressively.”
In September last year, Singapore GP renewed its contract with Formula One Administration to host the race for another five editions, beginning with the sixth installation this year from September 20-22.
In renewing the contract, Mr Iswaran had said the organisers were in a good position to lower the cost of staging the annual event by 15 to 20 per cent. The yearly cost is currently about S$150 million.
“Of course there are other aspects in the cost management of staging such an event. Some of these things are still works in progress, some have already been done,” he said.
S"pore Night Race must raise game to fend off new challengers: Iswaran
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