Developers claimed the new racing track in Ebbw Vale would create thousands of new jobs.
Wales Ready For NATO Summit
Carwyn Jones believes Wales is ready to host the biggest event it has ever seen.
The NATO summit will bring leaders from around the world to Newport in September.
Carwyn Jones, Wales' First Minister, says we have to use the opportunity of hosting it to sell the whole of Wales to the world.
He told Heart: "We'll have many thousands of people coming to Wales.
"We want to make sure they have a good experience when they're here, that they're aware of the opportunities that exist in Wales for investment and tourism and to use it as a way to market Wales.
He says it's an exciting prospect to have leaders from around the world coming to Wales - including US President Barack Obama.
"(He's) the first serving American President to come to Wales. It's a sign that our profile has increased and it's a great opportunity for us to showcase Wales.
The conference will be at the Celtic Manor in Newport on the 4th and 5th of September.
Carwyn Jones said work is underway to make sure Wales is ready for the event: "There's a lot of work involved to make sure everything is right. You can imagine security, the airport particularly, there's a lot of work that's being done at the moment but it'll be fine by September".
He added Wales has plenty to be proud of and there are lots of opportunities to show off what we can offer to visitors: "The fact that we have fantastic beaches, the mountains, Cardiff as a capital city.
"We have the landscapes of the north and the Cambrian Mountains.
"We've got such a lot to offer, we had to start believing in ourselves first and we're doing that now."
The First Minister says the Conservatives deal with the DUP is unacceptable.
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