More than half of all public spend in Wales goes to suppliers from the country, according to figures from the devolved government.
The details were revealed by Welsh finance minister Jane Hutt, speaking during a debate marking the second anniversary of the Wales Procurement Policy Statement, and a year since the launch of the National Procurement Service.
This includes 68 per cent of all contracts published on the online Sell2Wales portal won by Welsh suppliers. Some 55 per cent of procurement spend went to vendors in the principality, up from 35 per cent in 2004.
In addition, 56 projects, worth more than £600 million incorporated community benefits clauses into contracts. Procurement ‘fitness checks’ have also been carried out at all 22 Welsh local authorities and NHS bodies, and high education institutes will be complete by the end of 2014.
“The Wales Procurement Policy Statement which I launched two years ago has delivered real benefits to the economy, people and communities of Wales. These are significant results and I am confident they will increase in the future. Procurement is being transformed from a back office function to a strategically important lever that can drive social, economic and environmental improvements.
Hutt added the implementation of new EU procurement directives next year was “an ideal opportunity” to review the policy, and a “refreshed” statement would be launched in spring 2015.