Hanoi, Sep 7 (IANS) The Vietnamese capital city of Hanoi is considering the construction of a software park with a total investment of over $1 billion, which will create over 40,000 jobs, officials said on Wednesday.

According to the city Department of Information and Communications, a hi-tech zone, which will specialize in software development and digital content, will be built on an estimated area of 70.8 hectares along Vo Nguyen Giap Road, which leads to the international airport, Xinhua news agency reported.

Hanoi authorities have allowed a local firm named Becamex ITC to access the department's relevant documents so that it can propose a plan on developing the software park before September 30.

After considering plans, they will select an investor for the software park's development.

A concentrated information technology zone in Hanoi's Cau Giay district is now fully occupied by over 300 companies.

Vietnam earned $49.5 billion in revenue from information technology in 2015, compared with $7.6 billion in 2010, according to the Information Technology Department under the Ministry of Information and Communications.