I’ve found that using the lowest possible number of tracks helps with the rendering time. Even if you have a muted track, it will render faster if you delete it from your workspace. That said, your render time seem pretty good to me already. In comparison, my last project was a music video for my son’s rock band. Using multiple cameras (tracks), with effects for color correction and a lot of panning the seven minute video took over six hours to render. Needless to say, my computer renders while I sleep 🙂