Yes, you can still go tubing in Vang Vieng. However, it is no longer the same as it once was. Tubing in Vang Vieng used to be a party scene, with people drinking extensively and doing drugs. A number of mishaps occurred, including drownings.
The Laotian government prohibited tubing at Vang Vieng in response to these issues. Many of the river's pubs and restaurants were shuttered, and more robust safety measures were implemented.
Tubing in Vang Vieng is now considerably more sedate. There are a few pubs and restaurants along the river, although they are not as boisterous as they once were. People continue to consume alcohol while tubing, but they are more cautious not to overdo it.
If you plan on tubing in Vang Vieng, you should know the safety restrictions. You must always wear a life jacket and not consume alcohol to the point of drunkenness. You should also be mindful of your surroundings and avoid hitting your head on rocks or branches.
Tubing in Vang Vieng is still a pleasant pastime, but it is essential to be safe and responsible.