HANOI, April 17 (Xinhua) -- Vietnam will equitize 19 one-member limited companies under the State Capital Investment Corporation (SCIC) over the next two years, local newspaper Vietnam News reported Thursday.

    Under a plan recently approved by the Vietnamese government, 10companies will be equitized in 2008, seven in 2009 and two in 2010.

    SCIC is Vietnam's sovereign wealth manager, the official entity assigned to manage state capital freed up by the equitization of state-owned enterprises. It has reinvested the funds directly into other enterprises.

    Vietnam will equitize all 104 state corporations between 2008 and 2010, Vietnamese Prime Minister Nguyen Tan Dung said at a recent meeting between key cabinet members and international business leaders.

    The country, housing 6,000 SOEs in early 2001, had only 1,400 SOEs in late 2007, including over 400 plantations and more than 100 public utilities, he said, noting that most of equitized firms are operating effectively, and recording rapid growth.