Beijing — The director for Studies of the Foreign Ministry, Francisco da Cruz, said Monday in Beijing that the country's decision to hold a co-operation agreement with China happened "at the right moment" and this has helped to transform Angola into a modern state.

He went on explaining that with the achievement of peace in 2002, "the country needed to take very concrete steps in the ambit of the national reconstruction process".

The diplomat was speaking at an economic conference held in Beijing, having stressed that "the Chinese financing came about in the right time".

The conference, which was organised by the Angolan Embassy to China, in the ambit of the celebrations of Angola's independence anniversary, brought together dozens of diplomats and entrepreneurs.

"Angola is a country moving towards sustainable development", he said.

Questioned about the most attractive areas in Angola for foreign investment, the diplomat pointed out the construction of infrastructures, agriculture, services and extractive industries, mainly oil and diamonds.

As regards the Angolan sovereign fund, which was created in October, with a capital of 500,000.000 kwanzas (money from the oil industry), José da Cruz explained that "its investments will be made internationally, in places where the officials and the political leadership may find it opportune and beneficial to Angola and Angolans".

José Sala afirmou ainda que o desafio é diversificar o investimento privado pelas regiões, sobretudo as mais desfavorecidas.

Angola is the second main African exporter of oil to China.