This announcement was uploaded to IIE-Vietnam’s website on 25 November. It mentions (rather indirectly) the fact that the Ho Chi Minh City office will be closed in a few months and that advising services will no longer be available in the Hanoi office after the “transition.”
Why? Most likely political and financial reasons - in that order. Education has become an integral and highly visible part of the USG’s public diplomacy efforts and, by extension, the conduct of its foreign policy in Vietnam.
Interesting fact: The EducationUSA logo (below) and related content disappeared from the IIE-VN website almost as quickly as the funding did.
Note: IIE stands for the Institute of International Education, a US nonprofit organization based in New York. IIE is best known for its administration of the Fulbright student and scholar programs. About 50% of IIE’s budget comes from U.S. government sources.