In an interview with Japanese gaming site 4Gamer, Kojima talked a bit about the setting in the Metal Gear Solid V: The Phantom Pain trailer, Afghanistan in 1984 (translation by DualShockers).
“Since making Metal Gear Solid 3 I always wanted to make a game about the history of this era. In addition to that, 1984 is also the title of a novel by George Orwell and Metal Gear Solid V includes Orwellian themes.”
“Metal Gear Solid 3 was set in 1964, Peace Walker in 1974 and Metal Gear Solid V in 1984. We’re going in increments of ten years. It’s a balance, since teenagers nowadays weren’t yet born in 1984, but it’s not too old. That said, you can expect other settings, not just Afghanistan.”
Kojima also commented on his ambitious goals with his new title, and its showing at E3:
“I thought it received a good reaction, but after seeing Ubisoft’s [TomClancy’s] The Division I felt I have to work harder. At E3 we’re fighting against the powerhouses of the whole world. At one time I thought I managed to win that battle with Metal Gear Solid 3. For that reason we gave ourselves the objective to “win the world once more” with Metal Gear Solid V. The V in the title is the V for victory.”