1) Use the ODBC drivers instead of .NET drivers.
2) Use the MySQL GUI Tools and go to
Startup Variables >> Advanced Networking
Scroll down to the bottom and put a check next to "Disable name resolving"
3) Run the MySQL on the same server as the web server. Having a remote MySQL server can cause delays.
4) Make sure the CPU / RAM usage of the server hosting the MySQL server is not being overused.
5) Configure the Remote DB Connections at
System Settings >> Remote Server DB Connections
Check the box next to "Enable Direct DB Connections" and enter the MySQL server info in the rest of the boxes.