Bringing foreign investment to London

He believes the recession will not stop overseas companies setting up businesses here.

He said: "In the current economic environment, we are more than ever committed to helping companies from abroad identify the many business opportunities London offers.

"There has never been a better time to invest in London. The Mayor recently launched 'London Now', our economic action plan, to encourage more overseas companies to locate in the capital and it has become part of the Mayor's recovery action plan."

Mr Charlton outlined what London offers to put it ahead of other cities.

He said: "London's sector strengths are attractive for businesses but there are a number of other reasons why foreign companies still choose our city.

"Sterling's depreciation against the dollar by 27 per cent since the end of 2007 means foreign currency goes further now than it did before the recession.

Commercial property prices have decreased and overseas businesses are keen to take advantage of quality office space in a premium location at lower cost.

"London's talent pool has widened and deepened, offering a rich source of quality support to companies in a challenging market place. With supply increasing it's now a buyers' market, ideal for companies looking to get the best, possibly for less."

Based in One Canada Square, Think London has helped more than 1,400 companies from 40 countries set up or expand in London since being established as London First Centre in 1994.

Companies helped include Google, which now has more than 500 people working in London, Swatch, Microsoft and Canon.

Mr Charlton, 44, has been chief executive since 2002 and has seen business thrive in that time.

The agency claims to have added £710million to the London economy and to have created more than 6,000 jobs in 2007/08, although that may not be matched this year.

He said: "It is clear 2007/08 was a very good year for Think London. Although we have experienced the onset of the recession since, we must remember this is a global recession and almost every market is affected, not just London.

"Foreign direct investment has held up remarkably well over the last financial year and we will be releasing our figures in July this year.

"Companies are likely to continue to be more cautious about investments and projects are likely to get smaller. However, there are sectors that will remain resilient during the downturn and are likely to come out stronger as a result.

"We are the first point of call for companies looking to set up here, helping them understand that in London, companies are setting themselves up for the economic recovery.

"We also wanted to focus on bringing investment to east London, and London winning the bid for the 2012 Olympic and Paralympic Games has helped to further raise the profile of the East End."

The Olympics will provide the driving force for inward investment over the next few years, a fact Mr Charlton acknowledged.

He said: "London has a unique economic opportunity in the 2012 Games, which will add billions to the economy. With 7,000 tier one contracts and 75,000 supply chain contracts there are many opportunities for both British and overseas businesses."

Go to thinklondon.com