I would like to make dynamic queries in within my procedure. SQL Server has neat sp_executesql procedure for such tasks, is there anything in MySQL which can help me to achieve similar functionality?
AFAIK there is nothing exactly same. However, you can use a prepared statement, like:
mysql> PREPARE stmt1 FROM 'SELECT SQRT(POW(?,2) + POW(?,2)) AS hypotenuse';
mysql> SET @a = 3;
mysql> SET @b = 4;
mysql> EXECUTE stmt1 USING @a, @b;
+------------+
| hypotenuse |
+------------+
| 5 |
+------------+
mysql> DEALLOCATE PREPARE stmt1;
Copied from here: http://dev.mysql.com/doc/refman/5.0/en/sql-syntax-prepared-statements.html