Vietnam has targeted annual growth of 35-40 percent in its software industry in the 2007-2010 period under a software development program recently approved by the government, according to local newspaper Saigon Liberation on Monday.

Under the program, the sector's total revenues will, in 2010, stand at more than 800 million U.S. dollars, at least 40 percent of which are to come from software export. By the year, the sector will employ 55,000-60,000 people, each of whom is expected to annually create 15,000 dollars in product value.

By 2010, Vietnam will have over 10 software companies each employing more than 1,000 people, and 200 others having over 100 staff each.

The industry made revenues of 300 million dollars, including 90million from exports, in 2006, up 30 percent against 2005, according to the Vietnam Software Association (Vinasa), which represents 110 software developers in the country.

Vinasa has 14 foreign-invested firms as members, and represents60 percent of Vietnam's total software production capacity.