Yes, you can set the folder permission in Outlook 2010. Although you have not specified, I'm supposing that you're using Exchange. In Outlook there are two types of sharing available that you can set. First you can share as Folder Permissions and then you can share as Delegates.
Steps to follow:
1. Open Outlook and then find the Folder List. In Outlook 2010, Folder List is the default view.
From the menu select Properties and click on the Permissions tab. If Permission tab is not present, then you probably had set Personal Folders as your default delivery location. Just set the default delivery location to your Exchange Server Mailbox in this case.
Click on Add and select the people you want to grant permission. After each selection click Add and when you're done please click OK.
Now you need to select which permission you want to grant them. If you only want to give them the ability to view items in this particular folder then assign the role of Reviewer. Here is the list of roles:
Owner: Allows full rights to the mailbox, including assigning permissions; you should not assign this role to anyone
Publishing Editor: Create, read, edit, and delete all items; create subfolders
Editor: Create, read, edit, and delete all items
Publishing Author: Create and read items; create subfolders; edit and delete items they've created
Author: Create and read items; edit and delete items they've created
Nonediting Author: Create and read items; delete items they've created
Reviewer: Read items
Contributor: Create items
None: Gives no permissions for the selected accounts on the specified folder
Now the people you have granted permission to, needs to set up their Outlook to view your folders.
Hope this helps. Please let me know if anything.