IMO, your title is not grammatically incorrect. Wordy, yes - incorrect, no.
May I suggest: "Optimizing Wordpress Websites"?
Or, if you want to keep with the academic style of titling theses (with many words), you could change it to: "Optimizing Websites Created in Wordpress Framework."
No. the race to is usually followed by a base verb, not an -ing form.
Secondly, the simple present would not be used here,
So the following is the closest to your suggestion that is possible.
"The organizations ,x,y and z are engaged in the race to become the leading producer in the country."
but I would expect to see something like