Bratches explained that he wants to see a mix of circuit types on the calendar, with an emphasis on growing the number of street races such as the proposed circuit in Vietnam's capital Hanoi.
"The Vietnamese Grand Prix is a realisation of that ambition".
Race fees are a key source of income for F1 and the sport's owners Liberty Media have discussed the possibility of expanding the calendar to 25 races to increase revenues.
The April 2020 event will be a 5.565km street circuit, according to a statement issued by Formula One and sent by Vingroup, which signed a multi-year deal to host the Grand Prix.
"We're a 68-year-old entity and the nature of grand prix racing is that it is dynamic", he said in an F1 press release. I'm talking about the Silverstones, the Spas, the Monzas of this world.
"We are proud to be hosting the Formula 1 Vietnam Grand Prix, and showcasing the city of Hanoi to the world with its special combination of ancient and modern beauty from 2020", Nguyen Duc Chung said.
"The third segment features purpose-built facilities such as Shanghai, Austin, Texas and Bahrain".
"It provides an opportunity for inward investment to Vietnam and importantly to bring the exciting wheel to wheel racing of Formula One to the people of Vietnam", he said.
"We are delighted to announce that Hanoi will host a Formula 1 Grand Prix".
F1's CEO Chase Carey added: "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. We have Monaco, Baku and Singapore and this is a great addition to that line-up".