States back deal on foreign investment

State and territory governments have agreed to work with the commonwealth on strengthening foreign investment reviews relating to critical infrastructure such as ports.

The agreement came in the wake of the NT government's decision to give a 99-year lease on sections of the Port of Darwin to a company wholly owned by the Chinese firm Landbridge.

Treasurer Scott Morrison told reporters in Sydney on Thursday approval had been given to ensure strategic assets at a state and territory level will be subject to Foreign Investment Review Board processes regardless of whether it involves a state-owned enterprise or private foreign investor.