For many decades, the majority of Arab countries relied mainly on natural resources as their economy-driving engine, being rather late in adapting policies and practices promoting knowledge-based economies, and have a limited industrial base. Today however, it is quite obvious that leading states are those whose decision-making hubs have intensively invested in their national intellectual capita, promoting knowledge and technology transfer; enhancing training, R&D, and innovation activities. This is extremely crucial, as both local and global markets are prone to rapid technological changes, demanding academics and researchers with elevated level of expertise and highly skilled labor force. Explicitly, the contemporary development of a state is determined not by scaling up the use of its natural resources but by endorsing intangible human capital as the basis for continuous development of technologies and innovation.