Thailand’s cabinet approved a proposal for Bangkok to host a Formula One race for at least five years starting in 2028, earmarking 41.4 billion baht ($1.3 billion) in an effort to boost the nation’s image as a venue for international events and luxury tourism.

Thailand moves a step closer to hosting a grand prix as the country's cabinet approves a bid to host a street race in Bangkok.

Thailand already hosts MotoGP at the permanent Chang International Circuit in Buriram, but the focus for F1 is firmly on a 5.69km street circuit located just north of Bangkok’s city centre. Current F1 regulations state that the calendar cannot extend beyond 25 races, with 24 currently on the schedule.