*

Supporters chant 'President! President!' as Sheinbaum

takes oath

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Sheinbaum's government to present first budget by Nov. 15

*

Experts see need for tax reform; Sheinbaum has said no tax

overhaul planned

(Adds details from speech in paragraphs 12-14)

By Diego Oré and Cassandra Garrison

MEXICO CITY, Oct 1 (Reuters) - Claudia Sheinbaum was

sworn in as Mexico's first woman president on Tuesday, vowing to

bolster women's rights and ensure Latin America's No. 2 economy

remains a secure destination for international investment.

Sheinbaum, a 62-year-old scientist and former mayor of

Mexico City, took the oath of office and received the

presidential sash in a boisterous ceremony in Mexico's Congress,

which marks the start of her six-year term.

"It's time for transformation, it's time for women," she

said, her voice rising with emotion.

"I'm a mother, a grandmother, a scientist and a woman of

faith, and from today, by the will of the Mexican people, the

president," she said.

Sheinbaum also used her first speech as head of state to

address investor concerns after the passing of a sweeping

judicial reform pushed by her predecessor, Andres Manuel Lopez

Obrador.

She reiterated that the central bank would be autonomous and

told investors: "Rest assured that the investments of national

and foreign shareholders will be safe in our country."

Alberto Ramos, head of Goldman Sachs Latin American

economic research, said Sheinbaum will be judged on whether she

can construct "a predictable and investment-friendly policy and

regulatory framework."

"Disciplined management of the budget and of state-owned

enterprises, progress on public security, and safe-guarding the

integrity of key institutions will be key to preserving market

sentiment and sovereign debt ratings," Ramos said, emphasizing

the importance of heavily-indebted state oil company Pemex.

Sheinbaum pledged that the Mexican oil giant will look to

maintain daily oil production at 1.8 million barrels, in line

with current output.

The November presidential elections in the United States,

Mexico's largest trading partner, could add to market

volatility, especially if former President Donald Trump, who has

vowed to increase tariffs on Mexican goods, wins.

Sheinbaum's government will present its first budget before

Nov. 15, which is expected to be highly scrutinized for clues on

whether she will make good on commitments to reduce the fiscal

deficit to 3.5% of gross domestic product from 5.9%, where it is

predicted to close the year.

In an afternoon speech in the capital's historic Zocalo

square, she offered 100 pledges, ranging from expanding public

healthcare and education to building 1 million new homes,

capping prices for key goods and sending Congress a package of

reforms to battle gender violence and discrimination.

Sheinbaum said she will unveil the package on Thursday,

and said it will include proposed changes to the constitution

and seek to reduce impunity and protect women in a nation that

records some of the world's highest femicide rates.

"Our guide is the happiness and wellbeing of the

people," she said. "I pledge to you to keep making history."

CONTINUITY WITH CHANGE?

Lopez Obrador, whose six-year term began in late 2018,

managed to double Mexico's minimum wage, reduce poverty and

unemployment, broaden the base of social programs and oversee a

previous strengthening of the peso. Touting these

successes boosted his popularity and helped usher Sheinbaum, his

protégée, to a landslide victory in the June elections.

Mexican presidents are limited to serving a single six-year

term.

Sheinbaum, however, who has promised "continuity with

change," will inherit the largest budget deficit since the 1980s

and lagging economic growth.

Experts say Mexico's economy will require a tax reform to

increase revenues, though Sheinbaum has for now ruled out a

sweeping tax overhaul.

Instead, she has said she will pursue other options,

including improving the efficiency of tax collection at customs.

Sheinbaum "will have to deliver an important fiscal

consolidation if she wants to keep the positive view that

markets have today towards her," said Bernardo Keiserman, an

economist at investment bank Bradesco BBI.

"We believe the government is committed to an adjustment,

but delivering one sizable enough is not going to be an easy

feat. The economy is weaker and likely weakening further," said

Keiserman.

Recently, the central bank cut its GDP growth forecast for

this year to 1.5% from the previous 2.4% and lowered its

estimate for 2025 to 1.2%.

Nearshoring, the trend of companies moving production closer

to their main market, has helped Mexico attract investment, but

Sheinbaum will face a challenge to increase foreign investment

while implementing the judicial reform.

The judicial reform, under which judges will be elected by

popular vote, has scared investors and drawn criticism from the

U.S. ambassador to Mexico, who said it threatened the rule of

law.

"I'll govern for everyone and be assured that I'll put my

knowledge, strength, my history, and my life itself at the

service of the people and the country," said Sheinbaum.