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Kolkata: Mamata Banerjee government has called off the next edition of Bengal Global Business Summit (BGBS) that was to be held in January/February 2020.

Also, now on, instead of being an annual event, BGBS will be hosted once in every two years, Chief Minister Mamata Banerjee announced in the state Assembly today 26 June.

“There are various processes involved once we receive an investment proposal. There is detailed project report (DPR), signing up of MoUs, and some other formalities.”

“Hence, we have decided to allow more time between such business meets”, she said while taking part in the debate on Governor’s speech.

The Chief Minister said that the one year gap will help the government ensure that more investment proposals fructify before the next edition of BGBS, which will be now in 2021.

She said that about 50 per cent of the investment proposals received in the previous five editions of BGBS is under implementation.

The 5th edition of BGBS, held this February, got an investment proposal of Rs 2.84 lakh crore. BGBS was started in 2015 by Banerjee’s government as an annual event to woo investments in Bengal.

However, the opposition parties have been criticising the government since the beginning saying that while huge public funds are being spent on the initiative, any new industry is hardly being set up in Bengal by private players.