Boris Johnson plans live television coverage to promote the city around the globe on 31 December.
"I'm particularly keen to remind the global business elite that London offers them unique opportunities and an inimitable lifestyle," said the Mayor.
"Even these tough economic times cannot detract from the wealth of architecture, culture, gastronomy and people that make London the best city in the world to work, rest and play."
The viewing areas will have very limited space and will feature a specially mixed soundtrack from BBC Radio 1 in the run up to midnight.
LG Electronics is sponsoring the fireworks display.
Andrew Warner, marketing director, LG Electronics UK and Ireland, said:
"This sponsorship coincides with the first ever LG global brand campaign which highlights why we believe that ‘Life's Good'."
There will be all-night travel on Tube, DLR, Tramlink and selected National Rail services in the Greater London area on New Year's Eve.
The 24-hour bus routes will run as normal, but there will be a reduction in bus services leaving central London from around 7pm to 3am, because of road closures.
There will be free travel on all journeys from 11.45pm to 4.30am on Tube, DLR, Tramlink and buses, as well as some National Rail services on selected routes out of London after midnight.