Finance Secretary John Swinney has today officially launched Scotland's first ever national portal for public contract opportunities, part of the Scottish Government's economic recovery plan.

Public Contracts Scotland will act as a free online service for suppliers and will give them easier access to information on public sector business opportunities, worth an estimated £8 million each year.

Speaking at the National Public Procurement Conference in Glasgow, Swinney observed: "In a tough economic climate, everything we do has to support the economy and build a wealthier and fairer Scotland.

"This project is a fundamental change in the way that the public and private sectors will do business in future – in particular by reducing red tape and removing the barriers that can prevent us from working together with business.

"One single source of information now gives suppliers access to contracts. For the public sector, a free and simple portal can open up tenders to a wide range of potential bidders."

He suggested that around 10,000 suppliers had already registered with Public Contracts Scotland in the last few months, pursuing 700 contract opportunities.

Welcoming the portal launch, David Lonsdale of CBI Scotland said: "The Scottish Government's new advertising portal heralds a great opportunity for Scots firms to win orders and grow their business, and ought to benefit public procurers, private sector suppliers and taxpayers alike.

"Public procurement policy is not just an issue of value for money and efficiency in our public services, but goes right to the heart of the debate about growing our economy."

Andy Willox, Scottish policy convenor for the Federation of Small Businesses, suggested the portal was a "positive step in helping create a level playing field where small businesses can find and bid for Scottish public sector contract opportunities".

The Scottish Government is hopeful the advertising portal with benefit Scottish businesses during the current economic situation and also result in a better deal for taxpayers.