Angola’s National Agency for Private Investment signed on Thursday a total of 12 investment contracts with private partners, worth an estimated US$38.8 million, reports Portuguese news agency Lusa.

One of the contracts involves a private investor from China. The US$9.5 million project is for a steel factory in Luanda, Angola’s capital city.

The 12 contracts include investment in trade, industry, agriculture, construction and services.

Maria Luísa Abrantes, who heads the government agency, noted there was greater diversity in the sectors attracting foreign investors to Angola. “It is still little, but it is better than some years ago, when we only received trade projects,” she was quoted as saying by Lusa.