Latest Breaking News On - First cavite industrial estate inc - Page 1 : comparemela.com

Executive Secretary Salvador Medialdea (File photo) MANILA - Malacanang has issued a memorandum order directing the abolition of the First Cavite Industrial Estate, Inc. (FCIEI), a 154.5-hectare industrial subdivision in Dasmarinas, Cavite. The FCIEI was built to service all basic needs of any manufacturing concern of the light-to-medium scale industry. Executive Secretary Salvador Medialdea signed memorandum order No. 62 on Wednesday and was released to reporters on Thursday. Under the order, Medialdea said the Governance Commission for Government-Owned and -Controlled Corporations (GCG) recommended the abolition of the FCIEI because "its original purpose is no longer relevant to the State." It also cited how the FCIEI "is no longer achieving the objectives and purposes for which it was originally designed and implemented", "is not cost efficient", and "is dormant and non-operational." The GCG also cited how the FCIEI "is involved in an act

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