A renowned designer and a local investor are talking with the government about building a 5-km racetrack in eastern Singapore.

Ron Dickson, president of D3 Motorsport and said to be one of the world's best street circuit designers, is in Singapore as a speaker at MotorsportsAsia: The Grand Prix for Marketeers - a forum to highlight the business opportunities arising from hosting a motorsports event here.

Mr Dickson is scheduled to be at the Ministry of Community Development, Youth and Sports (MCYS) today to discuss a possible permanent track for motorcycle and A1 races.

It is understood he will tell MCYS there are two parties willing to underwrite the cost.

MotorsportsAsia: The Grand Prix for Marketeers is a two-day event that kicked off yesterday at the Pan Pacific hotel. Organised by UP Media, which specialises in PR, media and event marketing in motorsports, it is the first event of its kind here and the region.

Speaking to the audience and engaging in panel discussions are about 25 personalities from motorsports, broadcasting, advertising and retail, plus a former Formula One Grand Prix driver.

Some of the topics include 'Power Brands', 'The Economics of Staging a Race' and 'Money in Motorsports: Making F1 Commercial'.

About 150 people are attending the forum.

According to UP Media executive director Anand Vathiyar, there is such a buzz that participants have thrown up many business ideas and opportunities.

'One of them wants to get involved in the public relations for A1 and F1 races here, while another is thinking of setting up a motorsports driving school here, either by bringing in a regional franchise or starting his own,' he said.

This year's forum is a good starting point for next year's forum, according to Mr Anand.

'By then there will be more stakeholders because the agenda is firmed up and the government's stand clear,' he explained, referring to a possible F1 Grand Prix in Singapore next year.

'Next year's forum will be different and I believe it will be a spectacular success,' he said.

Singapore is awaiting an announcement on whether it will get an F1 race as early as in 2008.

The government has already said it is willing to provide financial and other support for any private sector venture staging such an event here.