Thought for London - July

London business elite think for London

On 28 June, Think London hosted a Symposium on globalisation, its effect on foreign direct investment (FDI) and the evolving international position of London in the next decade. The question for the Symposium was: how can we package and market the London proposition to both compete with and attract investment from the emerging economies of the world?

The event was hosted by Sir Martin Sorrell, Chief Executive of WPP, facilitated by Simon Hobbs of CNBC, and included leading figures from both global business and the public sector.

London was rightly identified at the Symposium as a good place to do business, owing to the robust but not overly restrictive regulatory and legal framework. Fairness and equality across the system, whether it is in judicial processes, immigration or regulation, was cited as the single most outstanding asset of London. London was considered the most international city in the world and it is the city’s cosmopolitan nature which makes it a unique place to live and to do business. The financial services and creative industries sectors were highlighted as two of the most attractive sectors to work in London, enabling individuals to interact with the best talent in the industry, and do things that can’t be done anywhere else in the world.

China and India are becoming more important both as sources and destinations of global FDI and London needs to be aware of this fact when shaping its future FDI strategy.

Delegates agreed on the importance of spotting the winners – the growth-oriented companies that would be future giants – and raising brand awareness with them. Apart from traditional markets such as the US, the key markets would be those emerging geographies that have the money and/or the energy to invest in London, namely China, India, Russia and South America.

Our recently established offices in China and the US, and soon India, together with our shared representation with UKTI in Brazil, puts us in a good position to focus on the recommendations outlined.

It is essential for the foreign investment agency of a leading global business city such as London to be able to tap into the thought processes of worldwide businesses to anticipate and respond to the evolving needs of its clients. This will help ensure our team will continue to successfully encourage companies to invest and grow in London in an ever changing competitive landscape.

Michael Charlton
Chief Executive, Think London

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