Yes. It's called Internationalization and Globalization. You do it by putting all strings into resource files. Here's a link to get you started:
http://www.c-sharpcorner.com/UploadFile/ankithakur/Globalization_Localization_in_DotNet_CSharp07032006023510AM/Globalization_Localization_in_DotNet_CSharp.aspx

>Is there a way with the VS 2010 setup to allow the user to choice the language to proceed with during the installation? Basically, I have a request to offer the capability for a French or English installation. I see the interface allows us to change the text but we would need to have that dynamic.