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This chapter assesses Brazil’s product market regulation and the regulatory framework for several network industries: electricity, oil and gas, and water and sanitation. Private investment can be encouraged by tackling regulatory uncertainty in many areas. To this end, recent initiatives include legislation on the role and structure of the regulatory agencies and the new model for the electricity sector. New legislation on public-private partnerships (PPPs) can encourage private investment, particularly in much-needed infrastructure, if carried out in a fiscally sound manner, adequately balancing risks between the government and its private-sector partners. These reforms are consistent with the government’s agenda for growth, focusing on meeting the challenge of improving the business environment.