When Does "Metal Gear Solid: Peace Walker" (2010) Take Place?
"Metal Gear Solid: Peace Walker" is a spy video game written by Hideo Kojima with Shuyo Murata, designed for the PlayStation Portable system, that released April 29th, 2010. So when is "Peace Walker" set?
It takes place on the fictional Metal Gear timeline in the year:
We know this because Kazuhira Miller says to Naked Snake, "Especially in Okinawa. The U.S. only gave it back to Japan 2 years ago, and American bases are still concentrated there. It's a heavy burden for the Okinawans to bear." and Okinawa Island was occupied by the United States of America's military from 1945 AD to 1972 AD.

1974 AD
We know this because Kazuhira Miller says to Naked Snake, "Especially in Okinawa. The U.S. only gave it back to Japan 2 years ago, and American bases are still concentrated there. It's a heavy burden for the Okinawans to bear." and Okinawa Island was occupied by the United States of America's military from 1945 AD to 1972 AD.
1972 + 2 = 1974.
Also, Paz Ortega Andrade tells Naked Snake, "A new president was elected this year - President Oduber. He seems to be distancing himself from the United States." referring to the real-world Costa Rican President Porfirio Ricardo José Luis Daniel Oduber Quirós (1921-1991) who was elected on May 8th, 1974 AD.
Furthermore, at the very beginning of the game, after a series of white-on-black title cards summarizing the events of the chronologically previous game ["Metal Gear Solid 3: Snake Eater" (2004)] there is another title card over the graphics after just a few shots. This reads, "November 4, 1974 15:42 Barranquilla Coast, Colombia".
It is a chronologically early game in the Metal Gear universe and it can be played either at its timeline point or after "Metal Gear Solid 4: Guns of the Patriots" (2008) as part of an extended flashback.
This game re-released for the XBOX 360 and XBOX ONE systems in the United States of America and on the PlayStation 3 system in Japan November 8th, 2011. There is a marked increase in graphics realism but the game's time setting is unchanged.
