The Northern Territory Indigenous Business Network says they hold "grave" concerns about the new NT governments' decision to pause and revisit the site of the Aboriginal and Torres Strait Art Islander Gallery of Australia in Mparntwe/ Alice Springs.

Last week, the NT's new Chief Minister, Lia Finocchiaro, along with the Members of Namatjira and Braitling, Bill Yan and Joshua Burgoyne, announced they were considering the "next steps" for the controversy-plagued gallery (ATSIAGA), which has faced a number of delays and sustained community pushback since it was first announced by the former Labor government in 2017.

Anzac oval, which was the proposed site of ATSIAGA, was set to be demolished, but Ms Finocchiaro has promised to save the facility.

"The CLP has always been committed to this iconic project and we want to do this right," Mrs Finocchiaro said.

"There is a pause in the current ATSIAGA program of work to work through next steps."

Late last week, the Northern Territory Indigenous Business Network (NTIBN) said they strongly opposed the pause in ATSIAGA's development, arguing the decision was in "direct contravention" to the CLP's electoral commitment of economic progress and action.

"The ATSIAGA project holds significant national importance for Aboriginal and Torres Strait Islander people and the tourism sector in the Territory. This project, which is the largest capital spend in the township by the NTG in a generation, was to be a driver of tourism revitalisation and economic development in the region," NTIBN said in a statement.

"This decision is not just a decision that jeopardises the livelihoods of Aboriginal people, it also effects non-Aboriginal Territorians and enterprises who have been planning, training and mobilising for this critical project."

NTIBN said local business, Sitzler Pty Ltd, has been left "holding the can full of promises", and labelled it ridiculous to think this was a "small" decision when it would cost millions and take up to 24 months to reinvigorate.

"We understand that the design of this project on this site has cost at least $32.5M, with Sitzler investing more than $2.5M in project costs to date," they said.

Chairperson Naomi Anstess said they extended an invitation to Chief Minister Finocchiaro and the CLP to engage in "constructive dialogue aimed at accelerating economic development in Mparntwe," as well as creating sustainable employment opportunities for First Nations people.

"It is critical for this new government to listen to industry," Ms Anstess said.

"We are ready and able to help progress a positive future for the region. Delaying this vital national project goes against the CLP mandate of progress and action."

The $150 million project has been mired in controversy with some Traditional Owners arguing sacred sites could be threatened by the planned development at the oval.

Multiple negotiations with Traditional Owners have failed and in 2017, a steering committee recommended the gallery should be built at the Desert Park, out of the town centre. However, this was ignored by the previous Labor government.

Speaking to ABC, local Traditional Owner Doris Stuart said it was disappointing there was any consideration for the galley to still be built on the current site.

She called it an "important women's site" where corroborees and ceremonies were kept.

"My father would say, 'You look after this place, don't you let others come along and say what they want to do with it'," Ms Stuart said, as reported by the ABC.

In response, NTIBN said: "The NTIBN knows that Traditional Owners did not want the ATSIAG to be on ANZAC Oval site. We supported this position at the time because we back our people. However, we accepted that a decision was made and progress on the project occurred. We are too far down the track and have expended too much of Territory Taxpayer monies to go backwards now."