The Autumn Statement has given Scotland the “potential for growth”.
That was the claim made by Dr Cable.
He singled out the renewable energy sector and the oil and gas industry as areas of opportunity for Scotland.
He said the country had “some advantages” in Chancellor George Osborne’s blueprint for the economy.
“There is the potential for growth arising from the industries spiralling out of oil and gas, which is still a very, very successful sector and the supply chain is reviving,” he said.
“The renewable energy sector is very dynamic in Scotland it’s partly why I’m here and why I was here last week for an announcement on green investment bank.”
Mr Cable also said the work done by Scotland’s universities was a major strength behind its economy.
He added: “It has very good centres of excellence like its universities.
“They are some of the best in the UK and some of the best in the world. That is why Scotland does relatively well out of the research budget it gets 15% of the total.”