The Portonovi complex will give additional impetus to the development of cooperation between Azerbaijan and Montenegro, said Montenegro's Prime Minister Milo Dukanovic April 23.

He made the remarks during the groundbreaking ceremony held in Montenegro's Kumbor town for construction of a five-star hotel which is a part of the Portonovi project financed by the Azmont Investments company, Montenegrin media reported.

The corporate parent behind Azmont Investments is Azerbaijan Global Investments (AGI), a consortium of three leading Azerbaijani Investment Holding companies.

Opening 2017, Portonovi Montenegro is a world-class resort community with a state-of-the-art marina.

The Portonovi lifestyle experience will include Europe's first One&Only resort, which will organically complement the Espace Chenot Health Wellness Spa and Yacht Club conceived by Winch Design.

Envisioned on a human scale, this sophisticated nautical universe also harbours an iconic collection of villa's and residences, set amid a constellation of high end boutiques, vanguard gastronomic venues and lively leisure offerings.

Addressing the ceremony, chairman of the Board of Directors of the Azmont Investments Ahmet Erentok said that the Portonovi project is the largest investment made by Azerbaijan in the tourism sector abroad.