HANOI, June 24 (Xinhua) -- Vietnamese Prime Minister Nguyen Tan Dung said the country's state-owned companies should be turned into limited liability or joint stock companies and operate under Enterprise Law by July 2010, local newspaper Vietnam News reported Wednesday.

    Dung made the statement in his newly issued directive on the equitization of state-owned companies, said the newspaper.

    Under the directive, when evaluating the value of a company for equitization, it is necessary to calculate the value of the company's geography location, its brand name and development potential.

    The companies to be equitized should also be instructed by authorized agencies to make a land-use plan that suits its business operation before getting the approval for its equitization scheme, according to the directive.

    All plans to equitize state-owned companies into limited liability companies or joint stock ones should be submitted to the Prime Minister for consideration and approval by the third quarter of this year, said the directive.