OPPORTUNITY TO TENDER: Capital Market Development in Southeast Asia
Opportunity to submit a tender to deliver research on the state of capital markets in Southeast Asia, particularly Indonesia, the Philippines and Vietnam, with a focus on public capital markets.
The Foreign, Commonwealth, & Development Office (FCDO) seeks to appoint a supplier to deliver primary research on capital markets in Southeast Asia as part of the UK Government’s flagship MOBILIST programme, in collaboration with SECO (Switzerland’s State Secretariat for Economic Affairs). This research will investigate the state of capital markets across the region, particularly Indonesia, the Philippines and Vietnam.
The research will identify opportunities for further capital market development, focusing on public capital markets, and propose methods for development finance entities to deliver these. This research will support future capital market development in the region and contribute to MOBILIST’s mission of mobilising institutional capital through listed products to deliver sustainable and inclusive growth.
🌏 About the Project
This research will deliver a comprehensive diagnostic of public capital markets in Southeast Asia, identifying barriers and opportunities for mobilising institutional capital through listed products. The findings will inform strategic interventions by development finance institutions (DFIs), support policy dialogue, and contribute to sustainable and inclusive economic growth.
🔍 Key Objectives
- Assess the structure, health, and dynamics of equity and debt markets.
- Identify constraints and bottlenecks across supply, demand, and intermediary functions.
- Propose actionable strategies for DFIs like MOBILIST to catalyse market development.
- Contribute to regional policy and investment dialogue.
📅 Project Timeline & Budget
- Contract Duration: 1 October 2025 – 31 January 2026 (4 months)
- Budget: Up to £116,400 (excl. taxes)
👥 Target Audience
- DFIs, IFIs, and MDBs
- Policymakers and regulators
- Stock exchanges and institutional investors
- Market intermediaries and potential issuers
- Research and academic communities
📄 Deliverables
- Inception, Interim, and Final Research Reports
- Presentation of findings
- External dissemination including strategic notes and stakeholder events
🧠 Expertise Required
Suppliers should demonstrate:
- Deep knowledge of Southeast Asian capital markets
- Experience in sustainable finance and listed products
- Strong analytical and policy insight
- Proven ability to engage stakeholders and deliver actionable recommendations
The full RfP can be found here.