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.” 

http://www.iievn.org/WebPage/Default/DetailNews.aspx?parentCateId=61&id=304

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.