Entrepreneurship is the key driver of economic progress in many countries; thus, many countries have introduced policies to promote a more entrepreneurial environment. This study assesses the impact of factors affecting entrepreneurial intention of university students. The data was collected through a survey of 341 students at 09 leading universities in Hanoi, Vietnam and analyzed using structural equation modeling (SEM) with SPSS and Amos software. The research results show that entrepreneurial skills, entrepreneurial environment and subjective norms either directly or indirectly affect business motivation and entrepreneurial intention of university students. Thus, it is suggested that university and other educational institutions should provide more activities and taught courses that help students acquire the knowledge and skills necessary for entrepreneurship.