Carey slams Vietnam criticism saying new ventures should be met with 'excitement'

Many fans were a bit stunned to see a race in Vietnam but Carey insists that ventures like these will make Formula 1 better. 

"Certainly we are not pursuing new venues at the expense of existing [races]," he told ESPN.

"The reality is we've renewed [race contracts], since we took control about two years ago, and the only race we haven't renewed is Malaysia, which was a mutual decision, so that's the reality.

"That being said, we want long-term partnerships and I think it's important to provide a freshness and a new energy to it.

"Vietnam is a new race and is going to be a great race, so I think it's exciting for the fans and the reception we have had around the world is excitement for it," added the American executive.

"We want to be in some markets we are not in where there are some opportunities for it, and there are some that we are in but we are not there in the way we think we can be in." 

Some fans have criticised new ventures in Formula 1 but it will be interesting to see if the company are successful in increasing the globalisation of Formula 1.