Though speed is important, it's good to focus on your feel and technique too
Here's some tips that can help you build your speed:
-Practice with a metronome
-Keep a "speed chart" to track your progress
-Try different picks
-Practice trilling
-Practice 2x/note, 3x/note, 4x/note
-Work on tremolo picking
Don't expect to play as fast as Yngwie overnight!
Speed takes time.
Cheers.